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NIO Stock Rises After CXMT IPO Bet Yields $100M
in5points
NIO stock snapped a 7-day losing streak after CEO William Li attended CXMT's listing dinner.
Nio bought about 18.24 million CXMT shares through Nio Power Technology, subject to an 18-month lockup.
NIO's chip investment in CXMT delivered over $100 million in paper gains on the first day of trading.
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Rajeev Chandrasekhar / Jupiter Capital interests historically