NIO Stock Forecast: Nio Inc rides higher as EV sector hits orbit to start the week
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UNLOCK OFFER- NYSE:NIO gained 6.15% during Monday’s trading session.
- Nio rival XPeng held its Tech Day over the weekend.
- Tesla receives a generous upgrade upon the announcement of a major order.
NYSE:NIO hit the ground running on Monday, as the Chinese EV maker surged higher and recaptured the $40 price level, and then some. Shares of Nio gained 6.15% and closed the first trading session of the week at $41.27. All three major indices popped higher on Monday as the Dow Jones and S&P 500 both closed at fresh new record highs. The NASDAQ paced the broader markets as Facebook (NASDAQ:FB) kicked off the mega-cap tech earnings with another monster quarter. Nio was not the only EV stock riding higher as XPeng (NYSE:XPEV), Li Auto (NASDAQ:LI), and Tesla (NASDAQ:TSLA) all saw massive gains during the session.
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XPeng in particular saw a nice bump as the company held its Tech Day event over the weekend. The company showcased its advanced driver assist program, which is set to go toe to toe with both Nio and Tesla. XPeng announced that its new system will be able to be used during city driving, and will be included in future vehicle models. XPeng also reported that it is looking to upgrade its X-Power supercharger network, which can charge for a range of 200 km within 5 minutes of charging.
NIO stock price
In other EV news, Tesla went parabolic on Monday as the company hit the $1 trillion market cap mark for the first time after the stock jumped by 12.66%. Car rental company Hertz announced that it would be ordering 100,000 Tesla vehicles to be delivered by the end of 2022 for its rental services. Morgan Stanley analyst Adam Jonas bumped his 12-month price target from $900 to $1,200 following the news from Tesla.
- NYSE:NIO gained 6.15% during Monday’s trading session.
- Nio rival XPeng held its Tech Day over the weekend.
- Tesla receives a generous upgrade upon the announcement of a major order.
NYSE:NIO hit the ground running on Monday, as the Chinese EV maker surged higher and recaptured the $40 price level, and then some. Shares of Nio gained 6.15% and closed the first trading session of the week at $41.27. All three major indices popped higher on Monday as the Dow Jones and S&P 500 both closed at fresh new record highs. The NASDAQ paced the broader markets as Facebook (NASDAQ:FB) kicked off the mega-cap tech earnings with another monster quarter. Nio was not the only EV stock riding higher as XPeng (NYSE:XPEV), Li Auto (NASDAQ:LI), and Tesla (NASDAQ:TSLA) all saw massive gains during the session.
Stay up to speed with hot stocks' news!
XPeng in particular saw a nice bump as the company held its Tech Day event over the weekend. The company showcased its advanced driver assist program, which is set to go toe to toe with both Nio and Tesla. XPeng announced that its new system will be able to be used during city driving, and will be included in future vehicle models. XPeng also reported that it is looking to upgrade its X-Power supercharger network, which can charge for a range of 200 km within 5 minutes of charging.
NIO stock price
In other EV news, Tesla went parabolic on Monday as the company hit the $1 trillion market cap mark for the first time after the stock jumped by 12.66%. Car rental company Hertz announced that it would be ordering 100,000 Tesla vehicles to be delivered by the end of 2022 for its rental services. Morgan Stanley analyst Adam Jonas bumped his 12-month price target from $900 to $1,200 following the news from Tesla.
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