Why Nio Stock Surged Higher Monday
Chinese electric vehicle (EV) maker (NYSE: NIO) recently announced another strong month of vehicle deliveries. Last week's announcement has helped push Nio shares higher. But other news concerning its domestic market and its newest luxury EV has even more investors piling in today.
Nio shares have soared about 20% so far in December. That includes a jump of 11.8% today, as of 10:30 a.m. ET.
Today's boost came after Chinese government leaders promised to implement "more proactive" fiscal policy next year as well as looser monetary policy to help boost domestic consumption. That bodes well for Nio as it hopes to get to another level of EV unit sales.
Source Fool.com
NIO Inc. Stock
€5.73
5.330%
With 1 Sell predictions and 0 Buy predictions the community sentiment towards the NIO Inc. stock is not clear.
This results in a negative potential of -47.64% based on a current price of 5.73 € and a target price of 3 € for the stock.
