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Benzinga

Business

Shanthi Rexaline

Nio Bounces Off Bottom Ahead Of Thursday's Hong Kong Listing: What Investors Should Know

NIO Hong Kong Li Nasdaq Nios Hong Kong Stock Exchange

Nio, Inc. (NASDAQ:NIO) shares, which fell to their lowest level in 1-1/2 years on Tuesday, are rebounding from the depressed level. In addition to the broader market strength, the stock is receiving support from the optimism around its planned debut on the Hong Kong stock exchange on Thursday.

Nio's Downward Spiral: Nio stock had four straight sub-$20 closes in the run-up to Wednesday's session. After a dismal 2021, when it underperformed relative to its peers, the stock got off to a not-so-promising start in the new year. Geopolitical tensions and macroeconomic worries exacerbated the weakness in Nio shares.

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