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Why Nio Shares Are Rising

Posted by Henry Khederian on Friday, December 31, 2021 Under: Technical Analysis

Shares of several Chinese stocks, including Nio Inc - ADR (NYSE: NIO), are trading higher after the Chinese government vowed to focus on consumption recovery and reduce some income tax rates.

Why Nio Shares Are Rising
© Provided by BenzingaWhy Nio Shares Are Rising

Shares of several Chinese stocks have otherwise been under pressure amid continued COVID-19 omicron variant concerns, which have prompted travel restrictions in some nations and added to lockdown fears. Omicron concerns have also caused uncertainty amid the holiday shopping season. Shares of Chinese companies have also been under pressure in 2021 amid further regulatory concerns in China.

See Also: Why Biogen Shares Are Falling 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 $27.52.

In : Technical Analysis 

Tags: why nio shares are rising   cryptocurrency  buy & sell bitcoin  price charts  price alerts  secure custody  nftart 

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