NIO Inc. (NYSE:NIO) shares are trading higher amid strength in Chinese stocks. Also, the company announced it will hold a Product Launch Event tomorrow.
Chinese companies are seeing strength possibly amid anticipation of the "618" shopping holiday, which is a large shopping event in the country. Recent economic reopenings and easing of lockdowns could also be positively impacting Chinese stocks across sectors.
The NIO Product Launch Event will start at 8:00 AM U.S. Eastern Time on June 15, 2022 (8:00 PM Beijing/Hong Kong/Singapore Time on June 15, 2022).
NIO Inc. operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence.
NIO Price Action: NIO, Inc. has traded between $55.13 and $11.67 over a 52-week period.
The stock was trading about 15% higher at $18.40 per share on Tuesday at the time of publication.
