Why NIO Stock Is Trading Higher Today
Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were trading higher on Thursday, after two Wall Street analysts released bullish notes on the company in the wake of its better-than-expected earnings report.
As of noon EST, NIO's American depositary shares were up about 5.2% from Wednesday's closing price.
Analysts from Citi and J.P. Morgan both released bullish notes on NIO during the day on Wednesday. Those notes, and NIO's good earnings report, were probably why auto investors were bidding up NIO's shares up at midday on Thursday.
Source Fool.com