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Nio's stock jumps on heavy volume, in the wake of Tesla's break-out rally – MarketWatch, Marketwatch.com

Nio's stock jumps on heavy volume, in the wake of Tesla's break-out rally – MarketWatch, Marketwatch.com


                                  

Shares of China-based Nio Inc.                                                                                                                                                                                                                      NIO, 5. (************************************%                                                                                                                                                           rose 3.9% in active midday trading Monday, putting them on track for a fourth straight gain, as fellow electric car maker Tesla Inc.’s stock                                                                                                                                                                                                                      TSLA, 8. 60%                                                                                                                                                          broke out to a fresh record highto extend its own win streak. Trading volume in Nio was (************************************. 6 million shares, enough to make the stock the most actively traded on the NYSE. The stock has now rallied 26% during its win streak. The rally comes as Tesla shares shot up 8.3%, to trade above the $ 728 mark after two failed attempts last week, with Oppenheimer analyst Colin Rusch’s boosting of his price target by about 60% to $ helping ignite Mondays’ rally. Nio’s stock has more than doubled (up 109. 3%) over the past three months , as has Tesla shares (up 109. 0%), while the S&P 728                                                                                                                                                                                                                      SPX, 0.************************%                                                                                                                                                           has gained (****************************************. 5%.

                                                                                                                                                                                                                                                         

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