Why Nio Stock Hit the Gas Today
Nio (NYSE: NIO) stock soared this morning and was trading up a solid 9% at 10:20 a.m. ET.
It's been a choppy week so far for the electric vehicle (EV) stock, so this rise in its share price is even more pronounced. Nio's latest expansion plans are reassuring investors about the company's growth potential even as they realize Nio's stock price may not be hit too hard if the company makes a bold move similar to the one a Chinese stock made today.
Aside from its domestic market, China, the only other market Nio has entered so far is Norway, where it first launched its SUV, ES8, in September and opened a Nio House in October last year. Nio Houses are experience centers for its car owners and house multiple facilities and services like a library and café. Just last week, Nio delivered its 500th vehicle in Norway.
Source Fool.com
