Why Nio Stock Dropped Then Popped on Thursday

Shares of Chinese electric-vehicle (EV) maker Nio (NYSE: NIO) took a turn for the worse Thursday morning, falling 2.3% in the first five minutes after the market opened.

But then, all of a sudden, Nio turned around and started heading higher. As of 10:15 a.m. ET Thursday, the stock is in fact up 4%! Why is that?

A car emerges from Nio's Power Swap battery-swapping station. Image source: Nio.

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Source Fool.com