NIO Inc – ADR (NYSE:NIO) shares are trading higher by 9.80% to $12.16 Monday afternoon. Shares are rising sharply during Monday’s session after investment management firm Ballie Gifford increased its stake in the EV maker. The firm now owns roughly 7.97% of outstanding American Depositary Shares (ADS) with one ADS representing one Class A common share.
Shares of Chinese companies last week were also trading higher ahead of the Lunar New Year on hopes of an economic recovery following the recent reopening.
NIO is a leading electric vehicle maker targeting the premium segment.
According to data from Benzinga Pro, NIO has a 52-week high of $26.40 and a 52-week low of $8.38.
