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Why Nio Stock Jumped 13% Today

TheMotleyFool

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Nio (NYSE: NIO) stock made a dramatic U-turn this morning after yesterday's plunge and has popped 13.5% as of 10:55 a.m. ET. Although the markets remain choppy, investors in the electric vehicle (EV) stock are excited about an event coming up tomorrow, June 15.

Nio will hold a product launch event tomorrow, and although the company hasn't specified what product will hold the spotlight, it should be its ES7 SUV. Nio released a teaser video of the new model today, giving a sneak peek into its camera and lidar sensor system.

It's an important event, as Nio has been postponing ES7's launch since April amid COVID-19 restrictions in China. ES7 will be Nio's sixth EV and is a mid-to-large-size five-seater SUV, between the ES6 and ES8.

Source Fool.com

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