NIO Stock Price: Nio Inc surges as growth stocks and Chinese ADRs rally
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UNLOCK OFFER- NYSE:NIO gained 7.10% during Tuesday’s trading session.
- New energy vehicle sales continue to rise in China.
- Chinese ADR stocks bounced back on Tuesday after a brutal sell off.
NYSE: NIO finally saw a reprieve from its ongoing decline on Tuesday as the broader markets rallied from a major sell off on Monday. Shares of Nio jumped higher by 7.10% and closed the trading session at $30.16. All three major indices rebounded on Tuesday, led by the NASDAQ which posted an impressive 2.4% gain. The Dow Jones added back 560 basis points and the benchmark S&P 500 bounced back by 1.78%. Investors are hoping that Tuesday’s session could trigger the annual Santa Claus rally from the markets although Wednesday’s futures outlook is currently bleak with all three indices looking at a red open.
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November was another month of progress for the Chinese electric vehicle market, as new energy vehicle sales rose yet again in impressive fashion. Sales jumped 122% year over year from 2020 last month, and year to date China has sold upwards of 2.5 million vehicles. Of course, new energy also includes plug-in hybrids as well which isn’t exactly indicative of electric vehicle sales. Li Auto (NASDAQ: LI) and BYD are two of Nio’s largest domestic rivals, and both companies make hybrid electric vehicles which have electric batteries as well as a small tank for gasoline to extend the range.
NIO stock news
Chinese ADR stocks finally had a positive day on Tuesday after an especially brutal sell off during Monday’s session. The Anti-Monopoly Bureau came out on Monday and announced that it would be seeking further punishment for companies that are practicing anti-competitive tactics. But investors shrugged off these threats on Tuesday and stocks like JD.Com (NASDAQ: JD), AliBaba (NYSE: BABA), XPeng (NYSE: XPEV), and PinDuoDuo (NASDAQ: PDD) were all trading higher during the session.
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- NYSE:NIO gained 7.10% during Tuesday’s trading session.
- New energy vehicle sales continue to rise in China.
- Chinese ADR stocks bounced back on Tuesday after a brutal sell off.
NYSE: NIO finally saw a reprieve from its ongoing decline on Tuesday as the broader markets rallied from a major sell off on Monday. Shares of Nio jumped higher by 7.10% and closed the trading session at $30.16. All three major indices rebounded on Tuesday, led by the NASDAQ which posted an impressive 2.4% gain. The Dow Jones added back 560 basis points and the benchmark S&P 500 bounced back by 1.78%. Investors are hoping that Tuesday’s session could trigger the annual Santa Claus rally from the markets although Wednesday’s futures outlook is currently bleak with all three indices looking at a red open.
Stay up to speed with hot stocks' news!
November was another month of progress for the Chinese electric vehicle market, as new energy vehicle sales rose yet again in impressive fashion. Sales jumped 122% year over year from 2020 last month, and year to date China has sold upwards of 2.5 million vehicles. Of course, new energy also includes plug-in hybrids as well which isn’t exactly indicative of electric vehicle sales. Li Auto (NASDAQ: LI) and BYD are two of Nio’s largest domestic rivals, and both companies make hybrid electric vehicles which have electric batteries as well as a small tank for gasoline to extend the range.
NIO stock news
Chinese ADR stocks finally had a positive day on Tuesday after an especially brutal sell off during Monday’s session. The Anti-Monopoly Bureau came out on Monday and announced that it would be seeking further punishment for companies that are practicing anti-competitive tactics. But investors shrugged off these threats on Tuesday and stocks like JD.Com (NASDAQ: JD), AliBaba (NYSE: BABA), XPeng (NYSE: XPEV), and PinDuoDuo (NASDAQ: PDD) were all trading higher during the session.
Like this article? Help us with some feedback by answering this survey:
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