2 Big Reasons Nio Stock Is Flying High Today

After sharp declines over the past couple of days, shares of Nio (NYSE: NIO) surged this morning and were up as much as 5.3% at 11:10 a.m. ET.

Investors believe fears about Nio's decision to halt production might have been overblown, even as they were just reminded of a popular investor's interest in the electric vehicle (EV) stock.

Nio stock plunged Monday morning after the website CnEVPost reported the company as having suspended production after several of its supply partners were forced to shut operations amid the COVID-19 lockdowns in China. The automaker also said a suspension of production will now mean a delay in deliveries of its vehicles, which possibly includes its flagship sedan, the ET7. Nio started deliveries of the ET7 on March 28.

Source Fool.com