(NYSE: NIO) shares popped today after the Chinese electric vehicle (EV) maker updated investors on two fronts. Yesterday the company released its third-quarter earnings report, which was well received. But it gave the market even more reason to cheer today.

Nio's American depositary shares are up about 10% this week, including a jump of 5.7% today as of 1:25 p.m. ET.

The rally in Nio shares began after the company reported its third-quarter results yesterday. While revenue of about $2.7 billion was slightly lower than expected, the company reported a much smaller loss than analysts thought it would. It also meaningfully improved that bottom line compared to the second quarter.

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Source Fool.com