Here's What Made NIO Stock Jump Today
When widely followed electric vehicle maker NIO (NYSE: NIO) reported its monthly deliveries for October, investors were surprised at the sudden drop versus prior months. But it looks as if the company took a step back last month in order to move two steps forward. Investors interpreted November delivery results in that light, and the stock popped more than 4% in early trading today. At 10:10 a.m. ET, some of those gains had faded, but shares remained up 2.5%.
Last month, October deliveries of only 3,667 vehicles surprised many investors. That figure represented a decrease of 27.5% year over year, after NIO's electric car shipments over the first nine months of 2021 marked an increase of more than 150% compared to the prior-year period. But there was a reason for the October results, and today NIO confirmed that they represented a one-time drop after it reported record monthly deliveries in November.
Source Fool.com
