NIO Shares Rally on Narrowed Losses and Revenue Growth
20
2
BTCCSquare news:
NIO Inc. shares gained 3.7% in premarket trading after reporting a third-quarter loss of 3.66 billion yuan ($514 million), a marked improvement from the 5.14 billion yuan loss in the same period last year. Revenue climbed 17% year-over-year to 21.79 billion yuan, fueled by a 60% surge in year-to-date vehicle deliveries.
The Chinese EV maker’s stock has risen 32% year-to-date, outpacing broader market declines. Analysts attribute the momentum to successful model launches and operational efficiencies. S&P 500 and Dow futures dipped 0.2% during the session, underscoring NIO’s outlier performance.
By:
