Why Is Nio Stock Soaring Tuesday? - NIO (NYSE:NIO)

Nio Inc. NIO shares were trading higher Tuesday after UBS upgraded the stock and the company moved to ship a new model to dealers.UBS analyst Paul Gong raised his rating on Nio from Neutral to Buy and lifted the price forecast from $6.2 to $8.5.The Chinese electric vehicle maker has begun nationwide shipments of its third-generation ES8 SUV to retail locations in China, positioning vehicles for immediate deliveries once the model officially launches later this week.Also Read: Oklo Stock Is Sliding Tuesday: ...