NIO Stock Pops on Announcement of Strategic Battery Swap Partnerships

Shares of Chinese electric vehicle (EV) manufacturer Nio (NYSE:NIO) popped higher Thursday early morning before engaging in choppy trading. Earlier, management announced that it entered into strategic partnerships involving battery swaps with multiple enterprises. Fundamentally, the move bodes well for consumer convenience. However, such a directive also carries risks for NIO stock.According to a Seeking Alpha report, Nio’s partnership agreement involves Wenergy Group, Anhui Transportation Holding Group, JA ...