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Here's Why Nio Stock Is Exploding Today

TheMotleyFool

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Here's Why Nio Stock Is Exploding TodayPhoto, wide shot, wide-angle lens, soft focus, Auto parts supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-XjwbnkgTrFCFx6Y3gLbqZBCj.png?st=2023-05-13T09%3A21%3A52Z&se=2023-05-13T11%3A21%3A52Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-13T06%3A55%3A39Z&ske=2023-05-14T06%3A55%3A39Z&sks=b&skv=2021-08-06&sig=wJlbn/o%2BieTjclaQNRsJc%2BDDZieC0UCS6BPi5tapxAA%3D

Nio (NYSE: NIO) stock exploded this morning and was trading nearly 10.3% higher as of 11 a.m. ET Monday.

An analyst who closely tracks the Chinese electric vehicle (EV) market just singled out the hot stock as his top EV pick in China and sees Nio shares doubling in value over the next 12 months, backed by two big growth catalysts. The prospect of doubling their money has investors loading up on Nio stock today.

Deutsche Bank analyst Edison Yu has two reasons why Nio could outperform and emerge as the leader among EV start-ups, according to The Fly.

Source Fool.com

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