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Why Nio Stock Popped Today

·2 min read
Why Nio Stock Popped Today
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Shares of Chinese electric car manufacturer Nio (NYSE: NIO) stock hopped 2.6% higher as of 12:45 p.m. EDT Tuesday after Bloomberg reported that Nio investors may have a second way to get rich. Because now they're going to own a piece of Lotus Cars. As Bloomberg advises, Lotus, the iconic British sports car maker that is majority-owned by China's Zhejiang Geely Holding Group, is raising $2.3 billion that it will use "to transform [itself] into an all-electric brand."