- Nio (NIO) is rising today ahead of a new product launch.
- The company will hold an online event for that launch tomorrow.
- Many investors are expecting the ES7 to be the big product launch tomorrow.
Nio (NYSE:NIO) stock is rising higher on Tuesday as investors prepare for a potential catalyst that could further boost the stock tomorrow.
The big news that has holders of Nio stock excited is a product launch event taking place on Wednesday. The event will start at 8:00 a.m. Eastern and will be available to live stream from a couple of sources. That includes on the electric vehicle (EV) company’s website and YouTube channel.
Nio hasn’t revealed what the new product is that it will be showing. However, investors are already sharing their hopes and expectations for the EV company. This has them expecting the launch of the ES7, as well as the 2022 ES6, EC6 and ES8.
Fans of Nio have been patiently awaiting the launch of the ES7. The EV was originally going to be revealed back in April. Unfortunately, lockdowns from the Covid-19 pandemic kept that from happening.
With today’s news comes a decent amount of trading for NIO stock. As of this writing, more than 67 million shares of NIO have changed hands. To put that in perspective, the EV company’s daily average trading volume is just above that at 74 million shares.
NIO stock is up 16.1% as of Tuesday afternoon but is still down 44.5% since the start of the year.
Investors looking for more stock market news for today will want to keep reading!
InvestorPlace is home to all of the latest stock market coverage traders need to know about! For Tuesday, that includes investors still buying Coinbase (NASDAQ:COIN) stock, when food prices will go down, as well as what thas Kaival Brands (NASDAQ:KAVL) stock rising. You can read all of this news at the following links!
More Tuesday Stock Market News
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- Why Is Kaival Brands (KAVL) Stock Up 20% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.