Nio Stock Gains Traction After Sliding On Monday: What's Going On?
Portfolio Pulse from Adam Eckert
NIO Inc's shares are trading higher after a significant drop on Monday due to a Bloomberg report suggesting the company was considering raising around $3 billion from Middle East investors. NIO clarified that it had no 'reportable capital raising activity' beyond its convertible notes offering. The European Union has launched an anti-subsidy probe into Chinese EVs, including NIO, to determine the extent of China's subsidies to these automakers.
September 26, 2023 | 3:56 pm
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NIO's stock price is recovering after a drop due to rumors of a capital raise. The company is also under scrutiny from an EU anti-subsidy probe.
NIO's stock price dropped due to rumors of a capital raise, which the company denied. The EU's anti-subsidy probe into Chinese EVs, including NIO, could potentially impact the company's operations and stock price. However, the stock price is currently recovering.
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