Why Shares of Electric Carmaker NIO Rocketed Up 54.7% in July

Why Shares of Electric Carmaker NIO Rocketed Up 54.7% in July

The awesome sales numbers followed on the heels of reports that Chinese behemoth Tencent Holdings had upped its stake in the fledgling automaker. Together with an infusion of cash from a Chinese economic development fund, the move eased market concerns about the company's liquidity.