This is Why Shares of Nio Inc. are Racing Higher

Over the last few months, shares of NIO raced from a low of $3.18 to $27.40 a share.

With solid monthly growth and earnings, coupled with higher demand for electric vehicles, NIO could see higher highs.

For September, Nio delivered 4,708 vehicles, growth of 133% year over year. And it announced it delivered 12,206 vehicles in the third quarter of 2020 – an increase of 154.3% year-over-year.

In Aug., Nio delivered 3,965 EVs, which was a 104% improvement year over year. Cumulative deliveries at the time were up to 21,667 for the year, an increase of nearly 110% year over year.

In July, EV sales were up 322% to 3,533 vehicles.

In June, it delivered 3,740 EVs, which was up nearly 180% year over year.

In its third quarter, the company delivered a total of 12,206 vehicles – a 154.3% year over year jump. It’s also above company guidance.

If NIO can continue to produce numbers like that, it could race even higher.