Motley Fool
Why Nio Stock Rallied 11% in October and Isn’t Stopping
Case in point: Nio (NYSE: NIO), which jumped 10.6% in the month of October, according to data provided by S&P Global Market Intelligence, and is already up another 10% so far in November, as of this writing. To be fair, October was quite a roller coaster ride for Nio, but some days were so big, the stock eventually ended the month on a high note. Momentum started to build early in the month after Goldman Sachs put up a price target of $56 a share on Nio stock, nearly 66% higher than the price it was then trading at.