Why Nio Stock Is Blasting Higher Today
Nio (NYSE: NIO) stock rocketed Wednesday morning and was trading up 8.8% as of 11:33 a.m. ET. Investors in the electric vehicle (EV) stock found plenty of fodder today: A popular investor just bought Nio stock for the first time even as China might be rethinking its stance on meeting U.S. regulations that threaten delisting of Chinese stocks in the U.S.
On the flip side, Nio is postponing the launch of a vehicle as China battles a surge in coronavirus cases, but investors don't seem worried.
Nio was expected to launch its first SUV, the ES7, in April. However, with the Beijing auto show scheduled for April 21 now likely to be postponed amid a COVID-19 surge, Nio will unveil the ES7 in late May, according to CnEvPost, a website focused on new energy vehicles (NEVs).
Source Fool.com
