NIO Inc. (NIO) Soars to All-Time High on Flagship Vehicle Deliveries

We recently published 11 Stocks Crushing Wall Street With Whopping Gains. NIO Inc. (NYSE:NIO) is one of the top performers on Tuesday.

NIO officially cracked past a new all-time high on Tuesday, as investors cheered the start of deliveries for a special variant of its executive flagship sedan.

During the session, NIO Inc. (NYSE:NIO) jumped to its highest price of $7.78 before trimming gains to finish the day just up by 5.69 percent at $7.62 apiece.

In an announcement on Weibo, NIO Inc. (NYSE:NIO) said it began delivering the ET9 Horizon Edition, 10 days after the vehicle’s official launch.

The news allayed concerns about the company’s production capabilities after announcing late last month that deliveries of the newly launched ES8 vehicle would be delayed for six months amid strong demand.

According to the company, it has fully sold the initial 40,000 units of the ES8, adding that new orders would face a waiting time of 24 to 26 weeks, or delivery as early as March 2026.

Meanwhile, NIO Inc. (NYSE:NIO) earlier earned a “buy” recommendation from Citigroup, alongside a price target of HK$65.90, higher than the HK$62.50 previously.

According to Citi, it added the EV-maker to its 30-day upside catalyst watch, indicating that it expects the latter to rapidly rise in the short term.

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Disclosure: None. This article is originally published at Insider Monkey.