NIO Stock Forecast: Nio Inc gains once again as Tesla quarter lifts EV stocks
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UNLOCK OFFER- NYSE: NIO gained 0.48% during Thursday’s trading session.
- Tesla’s quarter lifts the EV sector once again on Thursday.
- Baillie Gifford trims its Nio and Tesla positions.
NYSE:NIO revved higher for the second straight day but failed to reclaim the $40.00 price level before the closing bell. Shares of Nio gained 0.48% on Thursday and closed the trading session at $39.97. Markets continued to be mixed as the Dow Jones inched lower, while the S&P 500 and NASDAQ both powered higher with the NASDAQ leading the way gaining 0.62%. The NASDAQ may see a bit of a reversal to close the week as some tech earnings came in flat after hours on Thursday. Most notably Snap (NYSE: SNAP) tumbled by over 20% in extended trading after missing on revenue estimates during the quarter.
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On Wednesday, Tesla (NASDAQ: TSLA) reported its earnings after the close and shares of the EV industry leader were trading slightly lower. Thursday was a different story though as shares of Tesla were up 3.26% during the session, as the stock closed the day knocking on the door of the $900 price level. Despite missing revenue estimates for the quarter, Tesla knocked its EPS out of the park and recorded record vehicle deliveries. Other EV strokes were lifted higher in sympathy on Thursday as Nio, XPeng (NYSE: XPEV), Lucid (NASDAQ: LCID), and Ford (NYSE: F) were all trading in the green.
NIO stock price
Legacy investment firm Baillie Gifford disclosed that it trimmed its position in both Nio and Tesla this quarter, as well as cutting down on vaccine maker Moderna (NASDAQ:MRNA). The firm was one of the earliest investors in Tesla, so trimming its position is understandable given the recent highs the stock is seeing. Baillie Gifford initiated positions in Ginkgo Bioworks (NYSE:DNA) and Spotify (NYSE:SPOT).
- NYSE: NIO gained 0.48% during Thursday’s trading session.
- Tesla’s quarter lifts the EV sector once again on Thursday.
- Baillie Gifford trims its Nio and Tesla positions.
NYSE:NIO revved higher for the second straight day but failed to reclaim the $40.00 price level before the closing bell. Shares of Nio gained 0.48% on Thursday and closed the trading session at $39.97. Markets continued to be mixed as the Dow Jones inched lower, while the S&P 500 and NASDAQ both powered higher with the NASDAQ leading the way gaining 0.62%. The NASDAQ may see a bit of a reversal to close the week as some tech earnings came in flat after hours on Thursday. Most notably Snap (NYSE: SNAP) tumbled by over 20% in extended trading after missing on revenue estimates during the quarter.
Stay up to speed with hot stocks' news!
On Wednesday, Tesla (NASDAQ: TSLA) reported its earnings after the close and shares of the EV industry leader were trading slightly lower. Thursday was a different story though as shares of Tesla were up 3.26% during the session, as the stock closed the day knocking on the door of the $900 price level. Despite missing revenue estimates for the quarter, Tesla knocked its EPS out of the park and recorded record vehicle deliveries. Other EV strokes were lifted higher in sympathy on Thursday as Nio, XPeng (NYSE: XPEV), Lucid (NASDAQ: LCID), and Ford (NYSE: F) were all trading in the green.
NIO stock price
Legacy investment firm Baillie Gifford disclosed that it trimmed its position in both Nio and Tesla this quarter, as well as cutting down on vaccine maker Moderna (NASDAQ:MRNA). The firm was one of the earliest investors in Tesla, so trimming its position is understandable given the recent highs the stock is seeing. Baillie Gifford initiated positions in Ginkgo Bioworks (NYSE:DNA) and Spotify (NYSE:SPOT).
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