Why Traders Flocked to These 10 Stocks on Monday

4. NIO Inc. (NYSE:NIO)

NIO Inc. saw its share prices jump by 6.95 percent on Monday to close at $4.31 apiece following Citi Group’s bullish outlook, saying that it expects the company to post record vehicle deliveries.

In its market note, Citi analyst Jeff Chung said that he expects NIO Inc. (NYSE:NIO) to deliver as many as 63,000 vehicles in the second quarter of the year, which would mark a 50-percent increase from the 42,000 cars it delivered in the first quarter.

If realized, the figure would be the company’s highest delivery figure in history.

Additionally, Chung underscored NIO Inc.’s (NYSE:NIO) ten new models to launch before the end of the year, saying that he believes the releases will come sooner than expected, especially following the Shanghai auto show, which revealed NIO’s aggressive rollout plans.

In recent news, NIO entered into an agreement with Contemporary Amperex Technology (CATL), one of the largest battery manufacturers in China, to develop a battery-swapping network across the mainland to help drivers avoid recharging slowdowns.

Nio, a China-based electric vehicle manufacturer, said the deal with CATL would benefit passenger vehicles over a wide range of products, including unifying industry technical standards, enhancing capital and business collaboration, and providing efficient recharging solutions for users.