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Hot stock: Nio rises 17.4% on news of strategic investment in China unit
The last time the counter hit such levels was in January, when it traded above US$7.60
Published Mon, Sep 30, 2024 · 12:29 PM — Updated Mon, Sep 30, 2024 · 10:17 PM
SHARES of Nio shot up by as much as 21.9 per cent on Monday (Sep 30), following news that strategic investors will invest around 3.3 billion yuan (S$602.6 million) into its China unit Nio Holding Co, also known as Nio China.
At 9.36 am, the Chinese electric-vehicle manufacturer counter rose US$1.36 or 21.9 per cent to a high of US$7.58 after 386,550 securities changed hands.
The last time the counter reached such levels was in January, when it traded above US$7.60.
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