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Why Nio Shares Jumped Higher Monday

Why Nio Shares Jumped Higher Monday

Nio (NYSE: NIO) shares shot higher by as much as 10% Monday morning, and it has to do with the highly competitive Chinese electric vehicle (EV) market. As of 11:35 a.m. ET, Nio stock had pared some of that gain but was still trading up by 7.7%. The move comes from what should be considered welcome news for Nio and other relatively small Chinese EV makers.