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Chinese electric carmaker NIO recovers from bumpy U.S. debut

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(Reuters) - Shares of Chinese electric carmaker NIO Inc bounced back from a 15 percent plunge in their market debut on Wednesday, a day after the company's IPO was priced at the lower end of the expected range.NIO shares were up about 1 percent at $6.30 in afternoon trading, giving it a market capitalisation of $6.46 billion. The rebound in shares was a welcome relief for NIO, whose offering came under pressure as investors have turned wary about electric carmakers due to struggles at its chief rival Tesla Inc . Investors have worried about Tesla's cash-burn rate as the company struggles to ...

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First Published: Thu, September 13 2018. 00:05 IST