Hot stock: Nio shares spike ahead of May delivery data
This is in tandem with its recent bullish stock performance in the US and Hong Kong
DUAL-CLASS shares of Nio on the Singapore Exchange (SGX) rose sharply on Friday (May 31), ahead of the anticipated release of its unaudited first-quarter results.
This was in tandem with its recent bullish stock performance in the US and Hong Kong.
The Chinese electric-vehicle maker is primarily listed on the New York Stock Exchange, and has secondary listings in Hong Kong and Singapore.
As at 10 am on Friday, its shares on the SGX rose 10.8 per cent, or US$0.53, to trade at US$5.45.
The counter later eased to US$5.42 as at the midday trading break, up US$0.50 or 10.2 per cent, with 201,980 securities worth US$1.1 million traded.
Nio’s Q1 financial results, including its delivery data for May, are slated for release on Jun 6.
The group in April reported a 134.6 per cent year-on-year surge in vehicle deliveries to 15,620 for the month, bringing its year-to-date figure to 45,673, up 21.2 per cent from the prior year.
