NIO Inc (NIO) - Soars on Higher Vehicle Deliveries

We recently published a list of Investors Are Gobbling Up Shares of These 10 Firms. In this article, we are going to take a look at where NIO Inc. (NYSE:NIO) stands against other top-performing companies on Tuesday.

NIO Inc. saw its share prices grow by 5.83 percent on Tuesday to finish at $3.81 apiece as investors cheered the strong demand for its products, supported by higher vehicle deliveries last month.

In a statement, NIO Inc. (NYSE:NIO) said it delivered 23,231 vehicles in May, representing a 13.1 percent increase from the 20,544 in the same month last year.

The deliveries consisted of 13,270 vehicles from NIO; 6,281 vehicles from ONVO; and 3,680 vehicles from Firefly.

The number brought its total deliveries figure to 760,789, with the large chunk—710,655—owed to the NIO brand, followed by ONVO with 46,223, and Firefly with 3,911.

In the same month, NIO Inc. (NYSE:NIO) opened one NIO House and deployed 50 Power Swap Stations and 47 charging stations globally.

As of May 31, NIO had already built 184 NIO Houses and 3,404 Power Swap stations worldwide.

Its total portfolio also includes 4,607 charging stations and 26,441 chargers, among others.

Overall, NIO ranks 6th on our list of top-performing companies on Tuesday. While we acknowledge the potential of NIO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.