Shares of Chinese electric vehicle maker Nio (NYSE: NIO) opened Monday's trading session more than 3% below Friday's closing price after the company released its October vehicle delivery data. But investors looked beyond the disappointing numbers and reversed course on the stock, sending shares about 2% higher as of 11:20 a.m. EDT.
Investors have shown high hopes for Nio, giving the company a market cap of more than $65 billion even though it has yet to report a profit. The enthusiasm is based on its growth and future prospects.
Nio ES6 electric SUV. Image source: Nio.
Source Fool.com