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China Bellwether NIO Whipsawed as Traders Struggle to Set Price
A NIO EP9 autonomous electric vehicle stands on display at the company's NIO House brand experience center in Beijing.
Photographer: Gilles Sabrie/BloombergThis article is for subscribers only.
After a wild day on Thursday when NIO Inc. soared by 76 percent, Friday appears to be another volatile session.
The electric carmaker’s stock jumped by as much as 19 percent to $13.80 Friday, the third session since its initial public offering, only to turn negative in the first hour of trade, down as much as 21 percent intraday to $9.22. NIO shares are trading nearly 70 percent above this week’s IPO price.