Nio Inc – ADR (NYSE: NIO) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced the delivery of several vehicles throughout the third quarter, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The vehicle deliveries;
- what we’re seeing from NIO stock as a result; and
- what we’ll be watching for ahead.
NIO Announces Vehicle Deliveries
As mentioned above, NIO is having a strong start to the trading session this morning after the company announced news with regard to vehicle deliveries. In a press release issued early this morning, the company said that as of September 30, 2018, iut had delivered 3,368 ES8 vehicles. The company also said that 3,268 of these vehicles were delivered in the third quarter with 1,766 vehicles delivered in September, representing a 58% month-over-month increase. In a statement, William Li, Founder, Chairman and CEO at NIO, had the following to offer:
We are delighted that we have delivered more than 3,350 ES8s since beginning delivery on June 28, 2018… Growing our monthly deliveries from 381 in July to 1,766 in September demonstrates our steady production ramp, strong demand from users and the initial acceptance of NIO as a premium brand.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of NIO, the news proved to be overwhelmingly positive. After all, vehicle deliveries are on track and the company is obviously generating revenue. So, it comes as no surprise that the stock is making its way for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (8:18), NIO is trading at $7.83 per share after a gain of $0.37 per share or 4.96% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NIO. In particular, we’re interested in following the continued growth in vehicle deliveries as the company seems to be on track to reach its goals, something that took Tesla quite a while to accomplish. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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