Nio vehicle deliveries nearly tripled in June

Nio (NIO.US) – Chinese electric-car producer delivered 3,740 vehicles during June, a monthly record, and exceeded prior guidance with second-quarter deliveries of 10,331 vehicles. That Q2 figure was more than double the Q1 figure.

 

“In June, we achieved a historical high of monthly deliveries, contributing to our best quarterly performance,” William Bin Li, founder and chief executive, said in a statement.

 

Recently Goldman Sachs lowered its rating on company shares to neutral from buy, though the firm raised its share-price target to $7 from $6.40.

Nio (NIO.US) - launched today's session with a bullish price gap and is currently testing key resistance level at $9.21 per share. In case the stock fails to close above the aforementioned resistance, the future of the rally may be put under question. In such a scenario, $7.96 is the near-term support to watch. Source: xStation5

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