China’s Homegrown Tesla Jumps Over 5% in U.S. Trading Debut
Shares of Chinese electric-car maker Nio Inc. jumped more than 5% in their U.S. trading debut on Wednesday, reversing a steady string of negative developments in its IPO including a pricing near the bottom its range.
After pricing at $6.26, Nio’s shares opened at $6 and dropped to a low of $5.35 before closing at $6.60 on its first day of trading on the New York Stock Exchange. That gave the company a market capitalization of about $6.8 billion.
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