Nio's stock bounced briefly into the green Tuesday, after the China-based EV maker announced an investment of more than $1 billion by an Abu Dhabi fund.
The U.S.-listed shares of Nio Inc. bounced briefly into positive territory Tuesday, after the China-based electric vehicle maker announced an investment of more than $1 billion by an investment fund majority owned by the Abu Dhabi government.
Nio also said it was “aware” that CYVN has entered into a share purchase agreement with an affiliate of Tencent Holdings Ltd. to buy about 40.14 million shares of Nio owned by Tencent. Nio’s stock initially dipped in premarket trading following the CYVN investment announcement, as the share purchase price from the company represented a 7.2% discount to Friday’s closing price of $9.40. It then bounced to be up as much as 0.1% at an intraday high of $9.41, before pulling back into negative territory.
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