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Why Nio Stock Is Rebounding After an Early Morning Crash

TheMotleyFool

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Why Nio Stock Is Rebounding After an Early Morning Crash: https://g.foolcdn.com/editorial/images/709910/financial-graph-with-up-trend-line-candlestick-chart-in-stock-market.jpg

Shares of Nio (NYSE: NIO) tumbled nearly 5.5% within minutes of the market's opening today before regaining ground. As of 1 p.m. ET Thursday, the electric vehicle (EV) stock had bounced back sharply and was in the green.

There was a lot more to the stock's fall today than just updates from China, but investors aren't shying away from betting on the EV stock at current prices.

COVID-19 cases in China have surged to levels not seen since April, according to a Reuters report this morning. Guangzhou, one of China's largest manufacturing hubs, is even setting up big makeshift hospitals and quarantine facilities.

Source Fool.com

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