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Nio's stock soars again on heavy volume after Q2 deliveries beat expectations

Tomi Kilgore

Shares of Nio Inc. shot up 6.8% on heavy volume in premarket trading Wednesday, which puts them on track to match its longest win streak since going public 10 months ago, after the China-based electric car maker reported second-quarter deliveries that beat expectations. Trading volume topped 1.5 million shares, enough to make the stock the most actively traded ahead of the open. The company reported earlier second-quarter deliveries of 3,553 vehicles, above its previous guidance range of 2,800 to 3,200. Nio's shares have gained 44.7% over the previous six sessions, the best 6-day performance since it started trading on Sept. 12, 2018. A positive close Wednesday would mark the 7th-straight gain, which would match the record win streak over the 7-day stretch ending Feb. 1, in which the stock rose 20.6%. The stock has dropped 42.1% year to date through Tuesday, while the iShares MSCI China ETF has climbed 11.7% and the S&P 500 has gained 18.9%.