Bullish options flow was detected in NIO stock on July 2, 2020.

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On July 2, 2020, NIO Inc. (NYSE: NIO), a pioneer in China’s premium smart electric vehicle market, provided its June and second quarter 2020 delivery results.

NIO delivered 3,740 vehicles in June 2020, representing a strong 179.1% growth year-over-year. The deliveries consisted of 2,476 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, and 1,264 ES8s, the Company’s 7-seater high-performance premium smart electric SUV, and its 6-seater variant. NIO delivered 10,331 vehicles in the second quarter of 2020, representing an increase of 190.8% year-over-year and an increase of 169.2% quarter-over-quarter. As of June 30, 2020, cumulative deliveries of the ES8 and the ES6 reached 46,082 vehicles, of which 14,169 were delivered in 2020.

“In June, we achieved a historical high of monthly deliveries, contributing to our best quarterly performance. We appreciate the continuous support from our growing and loyal user community,” said William Bin Li, founder, chairman, and chief executive officer of NIO. “We are proud of our team for their strong execution from production to delivery. We remain committed to offering the best premium smart electric vehicles and the best user experience to our users.”

Steven Feng, chief financial officer of NIO, added, “We are pleased to deliver solid results driven by our competitive products, superior services and expanding sales network. Our deliveries in the second quarter of 2020 exceeded the high end of our earlier projection, and we are confident that our goals on gross margin and operational efficiency will be achieved.”

On June 24, 2020, Goldman Sachs analyst Fei Fang downgraded NIO Inc. to Neutral from Buy with a price target of $7, up from $6.40. The stock closed Tuesday down 20c to $7.23. The analyst cites valuation for the downgrade with the shares above the price target. Since Fang’s upgrade to Buy on June 3, NIO shares are up 50%.

finviz dynamic chart for  nio