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Benzinga
Benzinga
Business
Henry Khederian

What's Going On With Nio Stock Thursday?

NIO Nio Inc electric vehicle
NIO Inc.

Shares of Chinese electric vehicle maker Nio Inc – ADR (NYSE:NIO) are trading higher Thursday morning, mounting a recovery from a nearly 10% plunge on Wednesday. The sell-off was triggered by the announcement of a $1 billion equity offering to raise fresh capital.

What To Know: The offering, priced at $5.57 per ADS, rattled investors Wednesday due to concerns over the dilution of existing shares. The company is issuing approximately 181.8 million new Class A ordinary shares.

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