Why Nio Shares Are Higher Today, Despite China Angst
Protests over China's restrictive "zero-COVID" policies are in the news to start the trading week, but shares of Chinese electric vehicle (EV) maker Nio (NYSE: NIO) aren't being hit. The stock, in fact, jumped as much as 4.6% Monday morning. As of 12:05 p.m. ET, the stock was still higher by 1.9%.
The reason is partially due to the nearly 50% drop Nio shares have already taken in the past three months, as well as where China's COVID-19 policies might go from here. But it also may be related to a new analyst downgrade of a Chinese peer that pointed to competition from Nio and others.
Image source: Nio.
Source Fool.com
