Why Nio Shares Soared This Week and Could Keep Rising

Nio (NIO -0.98%) stock has been on a roll over the past month. The American depositary shares of the Chinese electric vehicle (EV) maker continued that run this week with double-digit gains.As of early Friday, the shares are 12% higher than last week's closing price, according to data provided by S&P Global Market Intelligence. Some news from the company contributed to that but so did more general tailwinds. In fact, the strength of the EV market in China has contributed to a more than 30% gain in Nio stock ...