Why Shares of Niu Technologies Skyrocketed 37% in October
Rebounding from a 7% drop in September, shares of Niu Technologies (NASDAQ: NIU) climbed 37%, according to data from S&P Global Market Intelligence. In addition to the company's reporting of third-quarter sales, investors were motivated to pick up shares of the Chinese electric-scooter manufacturer after Wall Street shared a favorable outlook on the stock.
While the impact of COVID-19 acutely affected Niu's first-quarter scooter sales, the company recovered in the second quarter, reporting year-over-year growth in scooters sold of 81% in China, though international sales shrank 62%.
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Source Fool.com
