Nio Inc – ADR (NYSE: NIO) is making a run for the top in the market today after the company announced first quarter delivery results. With results exceeding expectations, excited investors are sending the stock on a run for the top. Today, we’ll talk about:
- The better than expected delivery results;
- what we’re seeing from NIO stock as a result; and
- what we’ll be watching for ahead.
NIO Announces Better Than Expected Delivery Results
As mentioned above, Nio is having a great day in the market today, and for good reason. The company announced better than expected results with regard to the delivery of its vehicles.
In a press release issued early this mroning, NIO provided the total for first quarter deliveries of its ES8 electric sports-utility vehicle. The company said that in January, it delivered 1,805 vehicles. That figure was followed by 811 in February and 1,373 in March, bringing the total deliveries for the quarter to 3,989.
In previous announcements, NIO said that it expected to deliver between 3,500 and 3,800 ES8 sports-utility vehicles in the quarter. So, with the figure coming in at 189 deliveries more than the top of the expected range, investors are excited.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dive into the market is that it’s important to follow the news. After all, it’s the news that leads to moves. In the case of Nio, the news proved to be overwhelmingly positive.
With vehicle deliveries coming in well ahead of expectations, investors are excited as this trend may continue. So, it’s not surprising to see that the stock is headed up.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:53), NIO is trading at $5.46 per share after a gain of $0.26 per share or 4.89% 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 story surrounding the company’s continued work to expand the sales of its ES8 vehicle. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!