Nio (NIO) Stock Is Up On Vehicle Deliveries

Nio Inc NIO Stock News

Nio Inc – ADR (NYSE: NIO) is making its way for the top in the pre-market hours this morning after the company announced its vehicle deliveries for the second quarter. With the strong results in mind, investors are pushing the stock up more than 8% early on today. Here’s what’s going on:

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NIO Stock Gains On Delivery Announcement

In a press release issued early this morning, Nio provided a delivery update with regard to its vehicle deliveries in the second quarter. Of course, the excitement makes it clear that the company beat expectations.

In the release, NIO said that it delivered 3,553 vehicles in the second quarter. This proved to be great news as the company guided for vehicle deliveries to be in the range between 2,800 and 3,200.

The company also said that as of June 30, 2019, aggregate deliveries of its ES8 and ES6 model vehicles amounts to 18,890 vehicles since the company started to deliver its ES8 model just one year ago.

A Record Breaking Run

Recently, NIO has been running for the top at a break neck pace. In fact, in the past six trading sessions, the stock has climbed by more than 44%, and the premarket activity today says that the run will likely continue for at least one more session.

If the stock closes in the green today, it would represent a 7-session winning streak. This would match the record 7-session positive run that the company had early this year. Should the gains continue tomorrow, NIO will break its record for most consecutive closes in the green. So, keep your eyes peeled for a record breaker here.

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