Nio Inc nyse Nio Surges As Abrdn Plc Boosts Stake by 339 in Q4

NIO Inc. (NYSE: NIO) Surges as abrdn plc Boosts Stake by 33.9% in Q4

On May 26th, Shares of NIO Inc. (NIO) jumped 2.12% as abrdn plc raised its position in the company by an impressive 33.9% during the fourth quarter. According to the latest filing with the Securities and Exchange Commission, abrdn plc now owns over 652,107 (652.10K) shares of NIO Inc. after acquiring an additional 165,232 (165.23K) shares in that period.

The total value of abrdn plc’s holdings in NIO Inc. is estimated to be around $6,358,000 ($6.35M), as per the most recent filing.

This development follows the recent filing by CI Investments Inc., a renowned institutional investor, revealing that it sold 99% of its NIO Inc. holdings during the fourth quarter. CI Investments Inc. previously owned over 2.90M shares but now holds only 11,213 (11.21K) shares of NIO’s stock.

Furthermore, NIO Inc., a pioneer and a leading company in the premium smart electric vehicle market, is preparing to release its unaudited financial results for the first quarter of 2023 on Friday, June 9, 2023, before the U.S. markets open. Investors and analysts eagerly await these results to assess the company’s performance and gain insights into its future trajectory.

On Friday, NIO stock surges 2.12% to $7.70, with a trading volume of 42,914,101 (42.91M). The market capitalization of MULN stands at $12.73B.