After falling consistently over the past few months, shares of Nio (NYSE: NIO) bounced back swiftly to gain a solid 28.7% in June, according to data provided by S&P Global Market Intelligence. Investors’ expectations for Nio were bleak ahead of its first-quarter report, which it delivered on June 9. Although demand for EVs in its home market of China continues to rise, the price war triggered by market leader Tesla (NASDAQ: TSLA) at a time when Nio was already struggling with deliveries left investors on edge.