The Tesla of China soars after Tesla's largest outside investor discloses a stake (NIO)

pulse

October 9, 2018 10:16 PM

Nio shares surged Tuesday after a filing showed that Baillie Gifford & Co, Tesla's largest investor after Elon Musk, had a big stake in the company. Nio went public in US last month and soared 75% on the second day of its initial public offering.

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The filing revealed that Baillie Gifford & Co owned 85.3 million NIO shares, representing an 11% stake in the Chinese carmaker.
Nio went public in the US last month and soared 75% on its second trading day.

Shares of Nio, rallied more than 20% in late trading Tuesday on news that had a significant position.

The stock was up by about 7% after the closing bell.

A Tuesday regulatory document revealed that was worth about $515 million as of the close of trading Monday.

Nio priced at $6.26

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