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Why NIO Stock Is Higher Today

TheMotleyFool

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Shares of Chinese electric vehicle maker NIO (NYSE: NIO) were moving higher in early trading on Monday, after the company's April sales numbers showed it to be on track to meet its guidance for the second quarter.

As of 10:30 a.m. EDT today, NIO's American depositary shares were up about 4% from Friday's closing price.

NIO said on Saturday that it delivered 7,102 vehicles in April. That was down slightly from the 7,257 vehicles it delivered in March, but it was a good showing amid a shortage of semiconductors that has forced NIO and other automakers to reduce production.

Source Fool.com

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