Why Nio Shares Were Up, Then Down Monday

Investors in Nio (NYSE: NIO) couldn't decide whether to start off the final week of the year bullish or bearish. After initially jumping 2.6% early in the session, the American depositary shares of the China-based electric vehicle (EV) maker were down 1.2% as of 11:40 a.m. ET today.

Followers of Nio have been bombarded by news surrounding the company and its stock this month. That included the company's Nio Day event held on Dec. 18, and rumors of a deal with the largest Chinese automaker. And today's trading action comes after Ford said it began selling its electric Mustang Mach-E SUV in China on Sunday.

Nio's ET7 sedan should begin deliveries March 28, 2022. Image source: Nio.

Source Fool.com