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Nio Gains 21% in Three Trading Days on October Sales Surge
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Chinese electric carmaker Nio Inc. soared on Monday after the company said it delivered more than 5,000 vehicles in October, doubling its sales over the prior-year period.
American depositary receipts for the company gained as much as 14% to $34.94 in New York and closed up 9%, setting a record. The company had similarly announced last Thursday that it had produced 5,000 vehicles for the month and the ADRs closed up 16% that day.