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Why Nio Stock Rocketed Higher Today

TheMotleyFool

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Why Nio Stock Rocketed Higher TodayPhoto, wide shot, wide-angle lens, Automotive service center, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/c8dbaa5e-abdb-40ac-b919-ed80785b056a.png

Share of the Chinese electric vehicle (EV) maker Nio (NYSE: NIO) hit the accelerator today after the company reported its third-quarter results. While Nio's top-line results failed to meet Wall Street's consensus estimates, investors instead focused their attention on management's guidance for impressive fourth-quarter vehicle deliveries.

As a result, the EV stock was up by 12% as of 10:56 a.m. ET.

Nio reported a non-GAAP (adjusted) loss per American depositary share of $0.30 in the quarter, which was much lower than analysts' consensus estimate of a loss of $0.16 per share.

Source Fool.com

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