SPY314.42+0.64 0.20%
DIA259.45+0.41 0.16%
IXIC10,420.69+76.80 0.74%

Why Nio's Stock Is Trading Higher Today

NIO Inc. (NYSE: NIO) shares are trading higher after Tencent increased its stake in the company to 15.1% of outstanding shares.

Benzinga · -

NIO Inc. (NYSE:NIO) shares are trading higher after Tencent increased its stake in the company to 15.1% of outstanding shares.

NIO operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles.

NIO's stock was up 7.76% at $7.92 on Monday at the time of publication. The company set a new 52-week high of $7.92 and has a 52-week low of $1.19.

Related Links:

Nio Hits BofA's Recently Revised Price Target In June Rally

Price Over Earnings Overview: NIO