Why Nio Stock Is Racing Higher Today
After ending last week near where they began, shares of (NYSE: NIO) are taking a different route today, charged up and heading higher. News that the Chinese government is energized to spur growth of clean energy businesses is behind the stock's rise.
As of 1:26 p.m. ET, shares of Nio had risen 12.6%.
Attempting to reinvigorate its lagging economy, the National Development and Reform Commission (NDRC), a government agency responsible for economic development in China, stated that it's interested in bringing private capital to assist in the advancement of major projects throughout the nation.
Source Fool.com
NIO Inc. Stock
€3.53
-2.770%
Based on 2 Buy predictions and 1 Sell predictions the sentiment towards NIO Inc. is rather balanced.
With a target price of 5 € there is a positive potential of 41.6% for NIO Inc. compared to the current price of 3.53 €.
