# Nio stock rockets toward a record after October deliveries double
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Nio stock rockets toward a record after October deliveries double
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EV maker delivers more than 5,000 vehicles in October, a monthly record
The Nio Eve concept car
AFP via Getty Images
Shares of Nio Inc. soared toward a record Monday, after the China-based electrical vehicle maker reported October deliveries that doubled to a monthly record of more than 5,000 vehicles.
The stock
NIO,
shot up 13.1% to $34.57 in very active morning trading, well above the Oct. 29 record close of $31.99.
Nio reported overnight that it delivered 5,055 vehicles in October, up 100.1% from the same period a year ago, and a new monthly record.
The deliveries included 2,695 of its 5-seater premium smart electric sport utility vehicle (SUV), the ES6, and 1,477 of its 6-seater and 7-seater flagship premium smart electric SUV, the ES8.
The company also delivered 883 of its 5-seater electric coupe SUV, the EC6.
FactSet, MarketWatch
So far in 2020, Nio has delivered 31,430 vehicles, up 111.4% from the same period a year ago.
Nio’s stock has skyrocketed 759.9% so far this year. In comparison, shares of U.S.-based rival Tesla Inc.
TSLA,
have run up 380.8%, while the iShares MSCI China exchange-traded fund
MCHI,
has climbed 23.2% and the S&P 500 index
SPX,
has gained 2.2%.
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