(NYSE: NIO) stock made big gains in Monday's trading. The Chinese electric vehicle (EV) company's share price closed out the daily session up 4.6%, according to data from S&P Global Market Intelligence.

Nio published a press release before the market opened today announcing that it was on track to receive a new round of investment funding from CYVN Holdings -- an Abu Dhabi-based holding company. Per the agreement, CYVN will invest $2.2 billion in Nio and receive 294 million shares of stock at a price of $7.50 per share.

Despite the big pop today, Nio stock is still down significantly across 2023's trading. The company's share price has fallen roughly 14% year to date. Even more striking, the EV stock trades down approximately 87% from the lifetime high that it reached in February 2021.

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Source Fool.com