Why Nio Stock Blasted Higher Today
Investors in Nio (NYSE: NIO) are finally getting a breather, as the electric vehicle (EV) stock began the week on a solid note after plunging nearly 9% last week.
As of 12:30 p.m. ET Monday, Nio was trading up 7.3% after having surged 10.8% earlier in the day on rumors about its much-awaited flagship luxury sedan,the ET7, touted to compete with Tesla (NASDAQ: TSLA).
The China-based EV company has three models: the ES8 and ES6, which are SUVs, and the EC6 coupe. It plans to launch three new models in 2022, including the ET7.
Source Fool.com