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ShawnNeo
2021-06-30

Up up here we go

Nio Stock Extends Rally: What's Going On?

Shares of Chinese electric vehicle maker Nio Inc. closed almost 2% higher in the regular session on

Nio Stock Extends Rally: What's Going On?

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The company hassignificantly acceleratedthe pace of building swap stations in the past two weeks.\nIn addition, Citi increased its price target on the Nio stock to $72 from $58.30 and maintained a buy rating on the stock, citing expectations for strong growth in the company’s shipments in the second quarter as well as sequential growth in the next two quarters.\nWhy It Matters: Seen as a Tesla Inc. rival, Nio is relying on service offerings to make an impact on customers in China. The company has pioneered the concept ofbattery-as-a-servicethat would allow users to rent a battery instead of purchasing one.\nNio aims to have 500 battery swap stations in operation in China by the end of this year. 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