Why NIO Shares Are Rising

Nio Inc - ADR NIO shares are trading higher by 7.75% to $19.04 Friday morning as Chinese stocks gain following slower-than-expected China inflation data. Chinese EV stocks may also be reacting to news EV maker Leapmotor has shelved its Hong Kong IPO.

What Happened?

China's consumer prices increased at a slower-than-expected pace in August in the wake of heatwaves and COVID-19 flare-ups, while producer inflation eased to the lowest since February 2021, reported Reuters, citing official data. CPI rose 2.5% year on year, compared with a 2.7% growth in July...Read More

See Also: Apple Launches iPhone 14, High-End Apple Watch, Emergency Satellite Capabilities And More: What Investors Need To Know

According to data from Benzinga Pro, Nio has a 52-week high of $44.27 and a 52-week low of $11.67.