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Benzinga
Benzinga
World
Melanie Schaffer

After Xi Jinping Boosts China's Tech Sector, Here's Why Nio Stock Could Stage Large Reversal

NIO Xi Jinping China Nio Inc NYSE Tesla Inc.

Nio Inc. (NYSE:NIO) was surging over 5% in the premarket Tuesday after a bullish Monday caused the stock to rally 3.91%.

The spike comes on the heels of a speech made by Chinese President Xi Jinping, in which he laid out the communist party’s agenda for the next five years, including a commitment to investing in technology. The news boosted a number of China’s home-based tech stocks, including Nio, a Tesla rival.

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