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NIO - Why Nio and Chinese Tech Stocks Jumped Today
NIO Inc. American depositary shares each representing one Class A
U.S.- listed Chinese stocks have been taking a beating in recent months. The reasons behind the downtrend include political and regulatory fears, supply chain and raw material cost headwinds, and lockdowns in several cities to try to slow a new COVID-19 outbreak.
That sentiment reversed today, however. Chinese stocks including EV makers Nio (NYSE: NIO) and XPeng (NYSE: XPEV) , as well as trucking technology platform Full Truck Alliance (NYSE: YMM) , were all higher as of 11:34 a.m. ET:
Nio just produced its 200,000th EV. Image source: Nio.