NIO Stock: Why The Price Substantially Increased This Week

By Amit Chowdhry ● Oct 19, 2021
  • The stock price of NIO Inc (NYSE: NIO) increased by over 11% this week. This is why it happened.

The stock price of NIO Inc (NYSE: NIO) increased by over 11% this week. Investors are responding positively to speculation that NIO could be announcing new models at the NIO Day event. 

On Sunday, NIO said that NIO Day will be happening on December 18 at the Olympic Sports Center in Suzhou. The previous NIO Day event happened on January 9 and the company’s first sedan called the ET7 was announced at the time.

This year, NIO is expected to unveil the ET5 model along with another unknown model — which would be a new brand for the mass market according to StreetInsider.

During the second quarter results, NIO CEO William Li had told investors that the brand has a similar relationship to this new brand as Lexus has with Toyota and Audi does with Volkswagen.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.