Why Shares of Electric Carmaker NIO Rocketed Up 54.7% in July

Shares of Chinese battery-electric carmaker NIO (NYSE: NIO) soared in July, according to data provided by S&P Global Market Intelligence. The stock was on fire for the first nine days of the month, blasting up more than 90%, before easing off during the following week.

Year to date, shares have risen more than 250%, easily trouncing the S&P 500, which is only up about 4% so far in 2020.

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Source Fool.com