Stock Market Today, Dec. 29: Nio Rises on CEO Forecast for Over $4 Billion in Fourth Quarter Vehicle Sales

Nio (NYSE:NIO), which designs and sells electric vehicles, including sedans and SUVs, closed Monday's session at $5.34, up 4.71% on the day. Nio IPO'd in 2018 and has fallen 19% since going public. Trading volume reached 68.1 million shares, nearly 28% above its three-month average of 53.4 million shares.Monday’s action followed premarket focus on Nio's deeper battery reliance on Contemporary Amperex Technology (OTC:CYAT.Y) and a bullish CEO sales outlook. The S&P 500 (SNPINDEX:^GSPC) slipped 0.33% to 6,907, while the Nasdaq Composite (NASDAQINDEX:^IXIC) fell 0.50% to 23,474. Within the automotive industry, shares of sector rivals Tesla (NASDAQ:TSLA) and Li Auto (NASDAQ:LI) dropped 3.27% and 1.61%, respectively.Nio has expanded its offerings by introducing two new brands, launching the mass-market brand Onvo and a new premium compact brand, Firefly, last year. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool