NIO Limited (NYSE: NIO) relishing the early trading session on December 7, 2020, with the rise of 6.25% to 45.7. The company with a market capitalization of 61.77B has 7442 employees on its payroll and recorded an average volume of 162.01M.
It has been an exciting year for NIO Limited (NYSE: NIO), bringing the industry by storm. No one might have predicted just a year ago how profitable the company was going to be. Most observers were able to leave it for dead. But the Chinese Tesla rival pressed on, blowing away forecasts, and most notably, keeping its balance sheet in place. And it’s already paying off massively. The firm saw its share price grow from $3.24 at the beginning of 2020 to a peak of $50 earlier this week, marking a massive gain of 1443 percent for investors who had confidence.
NIO has recently launched a couple of sedans that will make even the greatest admirers of Tesla scratch their heads. The cars, competing directly with Tesla’s Model 3, may be precisely what the industry wants from Elon Musk’s electric car giant to win back ownership of its local market.
Though the sales of NIO suffered earlier this year in the q2 2020, they rapidly bounced back and have followed an upward trend ever since. NIO reported in its Q4 update in October that its revenues had more than doubled, predicting even higher sales in the months to come. The EV darling has come a long way from its 2019 alleged imminent bankruptcy, and if there is anything to offer investors this year, its CEO William Li has enormous goals and ample drive and ability to see them through.