Reported 1 day ago
Nio stock experienced a significant rise on Monday, boosted by an analyst from J.P. Morgan issuing a positive outlook and raising the price target to $8 per share. The stock jumped nearly 10% in morning trading and settled at a 4.3% gain, following Nio's announcement of a $1 billion capital raise aimed at investing in EV technology and enhancing infrastructure. Despite the positive news, concerns about profitability remain as Nio faces intense competition in the electric vehicle market.
Source: YAHOO