NIO Stock News: Nio Inc recovers from early session losses to close the week higher
Premium|Take advantage of 60% OFF on your first month.
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
You have reached your limit of 5 free articles for this month.
BLACK FRIDAY SALE! 60% OFF!
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
CLAIM OFFER- NYSE:NIO gained 0.44% during Friday’s trading session.
- Nio’s recent Power Day event showcased the power of its charging and battery swap networks.
- Nio isn’t out of the woods yet as COVID cases continue to rise in China.
NYSE:NIO had a rocky start to the trading day although the Chinese EV maker did manage to rally to a positive finish by the closing bell. On Friday, shares of Nio rose by 0.44% and closed the trading week at $22.60. A better than expected jobs report for the month of June managed to dash any fears of an impending recession for US investors. The NASDAQ posted its fifth straight day of gain as mega-cap tech stocks enjoyed another positive day. Overall the Dow Jones fell by 46 basis points, the S&P 500 edged lower by 0.08%, and the NASDAQ posted a 0.12% rise during the session.
Stay up to speed with hot stocks' news!
Nio held its second annual Power Day event recently and revealed some important updates for its charging network and battery swap stations. After announcing its 1 millionth battery swap and 1,000th battery swap station, Nio also revealed that its third generation battery swap technology will be ready to go by the end of this year to the beginning of 2023. Nio also reported that by 2025, it will have battery swap networks on nine vertical highways, nine horizontal highways, and in 19 of the largest urban areas of China.
NIO stock forecast
While Nio investors have celebrated its recent successes, the company is still not out of the woods in terms of the rising cases of COVID-19 in China. Investors are hoping that the weekend will find some reprieve, and that the Anhui Province of China where Nio operates a production facility, will stay clear of any government-imposed lockdowns.
Like this article? Help us with some feedback by answering this survey:
- NYSE:NIO gained 0.44% during Friday’s trading session.
- Nio’s recent Power Day event showcased the power of its charging and battery swap networks.
- Nio isn’t out of the woods yet as COVID cases continue to rise in China.
NYSE:NIO had a rocky start to the trading day although the Chinese EV maker did manage to rally to a positive finish by the closing bell. On Friday, shares of Nio rose by 0.44% and closed the trading week at $22.60. A better than expected jobs report for the month of June managed to dash any fears of an impending recession for US investors. The NASDAQ posted its fifth straight day of gain as mega-cap tech stocks enjoyed another positive day. Overall the Dow Jones fell by 46 basis points, the S&P 500 edged lower by 0.08%, and the NASDAQ posted a 0.12% rise during the session.
Stay up to speed with hot stocks' news!
Nio held its second annual Power Day event recently and revealed some important updates for its charging network and battery swap stations. After announcing its 1 millionth battery swap and 1,000th battery swap station, Nio also revealed that its third generation battery swap technology will be ready to go by the end of this year to the beginning of 2023. Nio also reported that by 2025, it will have battery swap networks on nine vertical highways, nine horizontal highways, and in 19 of the largest urban areas of China.
NIO stock forecast
While Nio investors have celebrated its recent successes, the company is still not out of the woods in terms of the rising cases of COVID-19 in China. Investors are hoping that the weekend will find some reprieve, and that the Anhui Province of China where Nio operates a production facility, will stay clear of any government-imposed lockdowns.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.