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Benzinga
Benzinga
Business
Henry Khederian

Why Nio Shares Are Rising

Shares of several Chinese stocks, including Nio Inc (NYSE:NIO), are trading higher amid signs of policy easing and a rebound across sectors as omicron COVID-19 variant fears eased.

Nio shares dipped Monday amid continued COVID-19 omicron variant concerns. Investors could be fearing uncertainty as the sector is currently facing supply chain issues stemming from previous COVID-19 restrictions. Uncertainty surrounding Biden's Build Back Better plan following comments from Senator Joe Manchin has also weighed on EV stocks.

See Also: Why Cassava Sciences Stock Is Trading Higher Today

Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.

Nio has a 52-week high of $66.99 and a 52-week low of $27.79.

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