Why Nio Stock Rose Today
The stock of Chinese electric vehicle maker Nio (NYSE: NIO) continued a climb Tuesday that began at the end of last week. Shares are up about 7% in the last three trading days as investors are moving back into U.S.-listed Chinese stocks in general. Nio's American depositary shares were up almost 4% on Tuesday alone at the high, but settled to a gain of about 1.5% as of 1:40 p.m. EDT.
Nio's ET7 luxury electric sedan will be available early next year. Image source: Nio.
In addition to country-related regulatory concerns, Nio was in the news recently for a fatal accident involving one of its electric SUVs that was operating on the company's assisted-driving feature called Navigation on Pilot (NOP). In response, the company has started requiring drivers to take a test using the feature, according to CnEVPost, an industry news site dedicated to covering the new-energy vehicle industry in China.
Source Fool.com
