The electric vehicle market just keeps getting better and better. Two of the top stocks in the space, Tesla and Nio, have been making major waves lately, and it looks like they’re headed in the right direction. Let’s take a closer look at the news and see why these two are worth keeping an eye on.
Nio Stock News
Nio is a Chinese electric automaker that’s been on the rise in recent months. The company just revealed increased sales numbers for the month of June, more than doubling the 11,348 units it sold in May. This represents Nio’s third consecutive monthly rise and confirms that the company is growing quickly despite the challenging environment.
Nio recently announced plans to expand into Sweden, making it the first Chinese electric vehicle manufacturer to enter the European Union market. This is a major move and could help the company establish itself as a major player in the industry, which is a major reason why investors have been so optimistic about Nio’s future.
Tesla Surges After Slowing Cash Burn and Musk Apologizes
Tesla’s stock has been on the rise, as well. After slowing its cash burn rate and announcing increased production numbers, the company is looking more and more stable. This has led to a surge in its stock price, with the company projected to reach a market capitalization of $100 billion for the first time ever.
Tesla CEO Elon Musk has also been in the news lately, after he apologized for recent tweets that drew the ire of the SEC. Even though the tweets landed him in hot water, investors seem to have taken them in stride, as the company continues to move forward.
It looks like the electric vehicle market is in a great position and Nio and Tesla are leading the charge. While both companies are great options for investors, it’s still important to be smart with your money and do your due diligence before investing.
FAQs
What is Nio? Nio is a Chinese electric automaker that has been steadily increasing sales in recent months.
What is Tesla doing? Tesla has been slowing its cash burn rate and increasing production numbers, leading to a surge in its stock price.
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Tesla Surges After It Slows Its Cash Burn And Elon Musk Apologizes For
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