Why Nio Stock Is Soaring Today
Shares of Nio (NYSE: NIO) surged this morning and were up 8.2% as of 10 a.m. ET. The electric vehicle (EV) stock has been highly volatile in recent weeks, but thanks to its Friday morning rally, Nio is all set to wrap up what could eventually be one of its strongest weeks in recent months. As of this writing, the stock is already 26.5% higher through the week.
China is driving all of today's gains in Nio shares.
Global demand for EVs is booming, and China has emerged as the fastest-growing EV market in the world. That means EV makers in China like Nio have massive growth potential.
Source Fool.com
