NIO Stock Forecast: Nio Inc surges on strong 2021 delivery numbers
- NYSE: NIO gained 5.65% during Monday’s trading session.
- Nio reported it's December and fourth quarter delivery figures over the weekend.
- XPeng, Li Auto, and Tesla also reported delivery numbers.
NYSE: NIO kicked the new year off in style as it provided a very successful deliveries report over the weekend. On Monday, shares of Nio jumped by 5.65% and closed the first trading session of 2022 at $33.47. Nio is attempting to rebound from a year where the popular Chinese EV maker’s stock lost over 37% in what can only be called a disappointing 2021. All three major US indices also started the year off on the right foot as the NASDAQ led the way climbing by 1.20%. The S&P 500 and Dow Jones gained 0.64% and 246 basis points respectively, as both indices closed Monday’s session at fresh all-time highs once again.
Stay up to speed with hot stocks' news!
The big news in the EV sector this week is that fourth quarter vehicle deliveries surged around the world. Nio announced that it delivered 10,489 vehicles in the month of December which represents a 50% year over year increase. This also led to a record-breaking number of 25,034 total deliveries in the fourth quarter and 91,429 in all of 2021 which was good for a 109% year over year increase.
NIO stock price
Nio wasn’t the only brand to have a positive report last quarter. Both XPeng (NYSE: XPEV) and Li Auto (NASDAQ: LI) also saw record-breaking growth in the quarter, seeing a 222% and 40% year over year rise respectively. Despite the strong delivery numbers, XPeng’s stock was down 0.12% and Li Auto inched higher by 0.75%. Industry leader Tesla (NASDAQ: TSLA) skyrocketed by 13.53% on Monday after reporting another record year for deliveries in 2021. Tesla delivered a staggering 308,600 vehicles in the fourth quarter bringing the total for 2021 to 936,172.
Like this article? Help us with some feedback by answering this survey:
Premium
You have reached your limit of 3 free articles for this month.
Start your subscription and get access to all our original articles.
Author
Stocks Reporter
FXStreet
