Why Nio Stock Jumped Monday
After a strong start to 2023, shares in Chinese electric vehicle (EV) maker Nio (NYSE: NIO) plunged more than 30% from late January highs. But the stock was popping close to 10% Monday morning, and as of 11:22 a.m. ET today, it was still higher by 6.4%.
Nio made investors nervous when it provided its business update and first-quarter outlook earlier this month. The company said it had shipped more than 12,000 vehicles in February, nearly double from a year ago. Over 7,000 of those were the sedan models that it launched last year.
Source Fool.com
