What's Going On With Nio Stock Wednesday?

NIO Inc - ADR NIO shares are trading lower by 4.9% to $7.69 Wednesday afternoon, pulling back following Tuesday's strength. Chinese stocks surged in Tuesday's trading session after Beijing announced efforts to stimulate its economy, which had been facing challenges like a real estate market collapse and deflationary pressures.

President Xi Jinping initiated measures to achieve the government's 5% growth target and address the economic stagnation.

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What Else?

Per a Tuesday report, Nio has acquired Leopard, a defunct automaker, as part of a government-backed effort to gain independent vehicle production certification. This move helps Nio transition away from contract manufacturing. The acquisition may also enable Nio to acquire two JAC factories and secure its EV production status.

Nio is meanwhile exploring the purchase of plant assets from its manufacturing partner, JAC, and is in discussions with new investors to manage financial implications while ensuring its operations remain unaffected.

According to data from Benzinga Pro, NIO has a 52-week high of $16.18 and a 52-week low of $7.00.