Nio Stock Continues To Race Higher: What's Going On?
Portfolio Pulse from Adam Eckert
NIO Inc's stock has been on the rise, with shares trading higher after an 8% increase on Monday. The stock is now up more than 20% over the last month. This is due to Nio's delivery update for the second quarter and June, where it reported delivering 10,707 vehicles in June, up from 6,155 vehicles in May. The company also launched and commenced deliveries of the ET5 Touring in mid-June and started ramping up deliveries of its ES8 SUV toward the end of the month.
July 11, 2023 | 12:48 pm
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NIO Inc's stock has been on the rise due to positive delivery updates for the second quarter and June. The company also launched and commenced deliveries of new models, which could further boost its stock.
NIO Inc's stock is rising due to positive delivery updates for the second quarter and June. The company's launch and commencement of deliveries of new models could further boost its stock as it indicates strong product pipeline and potential for increased sales.
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IMPORTANCE 80
RELEVANCE 100