Here's What's Moving Nio Stock Today
There have been several factors creating a bit of tug-of-war with the stock of Chinese electrical vehicle (EV) maker Nio (NYSE: NIO) in the past several weeks. Since late October, the company's American depositary shares (ADSs) have swung from the high 30s into the low 40s and back several times. That pattern was reflected in today's trading as Nio shares were down 2.7% early, bounced back into the black with gains over 1%, and then were back down 1% as of 2:55 p.m. ET.
Some of the bullishness in Nio shares has come from excitement created by other EV makers in both the U.S. and China. But Nio shares themselves have had some overhang recently as the company worked to complete an at-the-market offering seeking to raise $2 billion. With the announced completion of the sale of the additional ADSs last Friday, attention should turn to upcoming catalysts, at least according to one analyst.
Source Fool.com
