Why Nio Stock Is Skyrocketing Today
Shares of (NYSE: NIO) skyrocketed Wednesday morning and were trading 11% higher as of 10:50 a.m. ET. The China-based electric vehicle (EV) company released its third-quarter numbers yesterday and reported a sharp jump in deliveries, but there's something even bigger that's caught the market's attention today.
Here are some of the most important numbers from Nio's Q3 earnings report that every investor should know:
The only numbers you must focus on here are Nio's deliveries and margins. That's because both metrics were on a downslide in recent quarters. As I recently highlighted, Nio expected its margins to pick up the slack in the third and fourth quarters, and any improvement in margins could provide a much-needed respite to the stock price.
Source Fool.com
