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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 trading higher on Monday, after a Wall Street analyst shared an upbeat outlook for the company ahead of its second-quarter earnings report.

As of 1 p.m. EDT today, NIO's American depositary shares were up about 3% from Friday's closing price.

In a new note released on Monday morning, Deutsche Bank analyst Edison Yu said that he expects NIO's second-quarter results to come in above Wall Street's consensus estimate. NIO will report its results after the U.S. markets close on Wednesday, Aug. 9.

Source Fool.com

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