Why NIO Stock Is Flying Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were sharply higher on Monday morning, as U.S. investors returning from a holiday weekend reacted to a strong June sales report released late last week.
As of 10:15 a.m. EDT, NIO's American depositary shares were up about 23.5% from Thursday's closing price.
NIO released its June sales report last Thursday, right before the U.S. holiday weekend, and it was a good one: Sales in June were up 179% from a year ago; for the second quarter, sales were up 191% from the same period in 2019.
Source Fool.com