10/14, 5:17 PM (Source: TeleTrader)
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Chart for: NIO INC

Nio stock surges over 17% after JPM upgrade

Stocks of Chinese automobile manufacturer NIO surged on Wednesday by more than 17% after the company was upgraded by JPMorgan to an overweight rating due to rising demand for electric vehicles in China.

Earlier this month, the company said it has set new record highs for the number of electric vehicles delivered to customers on a monthly and on a quarterly basis. The number of delivered vehicles, therefore, soared by 133.2%

At 11:15 am ET the stock price came to an all-time-high gaining 17.53% selling for $25.47.

Breaking the News / TF