Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) were moving higher on Thursday morning. Investors are looking ahead to the company's annual NIO Day, set for Saturday, when it is expected to reveal a new sedan model and longer-range battery packs.
As of 10:15 a.m. EST, NIO's American depositary shares were up about 5.2% from Wednesday's closing price.
NIO Day is the company's annual party for its customers and fans, typically held a few weeks before the Chinese New Year. In addition to live music and assorted festivities, NIO uses the occasions to reveal new models and provide updates on its technologies.
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Why NIO Stock Is Moving Higher Today