Why Nio Shares Are Shooting Higher This Week
Shares of Chinese electric car maker Nio (NYSE: NIO) have been on a wild ride the past two weeks. Its American depositary shares are down about 15% overall in that time, but it would look much worse without this week's gains. Through Friday morning trading, Nio shares have soared more than 25% this week alone, according to data provided by S&P Global Market Intelligence.
The reason for the rebound is mainly relief from delisting concerns related to U.S.-listed Chinese companies. But Nio's business is also at a pivot point for growth. Combine those things with a share price that had been tumbling, and we have a recipe for this week's share gains.
Image source: Nio.
Source Fool.com
