![\"NIO](\"\/blog\/wp-content\/uploads\/2019\/12\/nio-market-performance-1200x621.jpg\")
<\/p>\nShares of Nio Inc. NIO shot up 12.5% toward an 8-month high in afternoon trading Tuesday, once again reversing course sharply after posting losses earlier in the session. <\/p>\n
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Published: Jan. 21, 2020 at 1:43 p.m. ET, By Tomi Kilgore<\/p>\n
That puts the China-based electric car maker’s stock on track to extend its record win streak to nine sessions. <\/p>\n
The stock opened down 1.5% at $4.67, then fell as much as 3.2% to an intraday low of $4.52, before swinging higher. <\/p>\n
Nio’s stock was the most actively traded on major U.S. exchanges, with trading volume of 131.7 million shares, compared with the full-day average of about 77.8 million shares. <\/p>\n
The stock has now run up 62.3% during its win streak, which is the longest since the company went public in September 2018. <\/p>\n
During the streak, the stock has traded in negative territory in six of the sessions before eventually turning higher. <\/p>\n
Helping propel Nio’s stock during the streak included upbeat deliveries data, the fact that U.S.-based EV maker Tesla Inc.’s stock TSLA has also been roaring higher and the disclosure that Nio’s largest shareholder, Ballie Gifford & Co., had bumped up its stake in Nio to just over 13% from about 11%. <\/p>\n
Nio’s stock has now more than tripled (up 211.0%) over the past three months, while Tesla shares have more than doubled (up 113.8%) and the S&P 500 SPX, +1.44% has gained 10.4%.<\/p>\n
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