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Why Nio's Stock Is Trading Higher Today

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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.

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.

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