Why Nio Stock Is Racing Higher Today

After ending last week near where they began, shares of (NYSE: NIO) are taking a different route today, charged up and heading higher. News that the Chinese government is energized to spur growth of clean energy businesses is behind the stock's rise.

As of 1:26 p.m. ET, shares of Nio had risen 12.6%.

Attempting to reinvigorate its lagging economy, the National Development and Reform Commission (NDRC), a government agency responsible for economic development in China, stated that it's interested in bringing private capital to assist in the advancement of major projects throughout the nation.

Source Fool.com