Underlining its inherent volatility, Chinese electric vehicle manufacturer Nio Inc – ADR (NYSE: NIO ) stock is retreating after Wednesday's 14%-plus rally that took the stock to its highest level since mid-2019. Nio Funding News Moves Stock Nio shares rallied to an intraday high of $4.48 before ending Wednesday's session at $4.29, a gain of 14.10%, on four times their average volume. The rally was sparked off by a report in Sina Finance that said Guangzhou-based automaker Guangzhou Automobile Group Co Ltd (OTC: GNZUF ) is preparing to invest $1 billion in cash-strapped Nio. GAC confirmed in a communication to the Shanghai stock exchange Thursday that its units and external parties could invest as much as $150 million in Nio. Nio said in a separate statement that it has explored financing and strategic opportunities and that all commercial discussion remains preliminary and no definitive agreement has been entered into by both parties.