Nio's Nio Day 2022 to be held in China

Nio Inc.'s NIO stock has been languishing at depressed levels, but recently it has picked up some momentum amid easing COVID 19 curbs in China. A key company-specific catalyst that has previously driven the stock price higher is scheduled for a little over two weeks from now.

What Happened: Nio announced on December 24 that the event will be Nio Day 2022 at the Binhu International Convention and Exhibition Center in Hefei, China. Nio Day is an annual event that the company has been holding since 2017. At this event, the company makes major announcements about new vehicles, service offerings and other strategic activities, including international expansion.

The event will be live on its website and the Nio AppNio App. Registration for attending the event is now open on the Nio AppNio App in China.

Why It's Important: It was just after Nio Day 2020, held on Jan. 9, 2021, the company's stock hit a new all-time high of $66.99. The company announced its first-ever sedan, the ET 7.

The next iteration of the event - Nio Day 2021 - was held on December 18, 2021, but it did not cause any flutter in the stock market. The company said it had a new midsize ET 5 sedan, AR VR integration and an international expansion plant at the event.

The company's main manufacturing plant, along with its joint venture partner JAC, is located in Hefei, the venue for the next Nio Day.

According to Benzinga Pro data, the price action of Nio closed Wednesday at $12.58, down 4.98%.

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