NIO Stock Soars By 7% As Today's Session Comes To An End

Elon Musk is about to become the third richest man in the world, after  Tesla is about to be included in the S&P 500 index, causing shares in the company to rise by over 10%. Anyway, Tesla isn’t the only electric car company seeing its stocks surge dramatically this year. Chinese startup car manufacturer NIO is a more recent electric vehicle (EV) company founded  by William Li. NIO shares have been soaring over the last months reaching up to more than $50 per share. In the last days, its shares price has had a correction to below the $50 price point. Today's shares price jumped by 7.78% to $48.56 at 15:12 EST. The New York Stock Exchange is rising 0.15% to $13218.7, on what seems, up to now, a somewhat positive exchanging session. NIO's last close was $48.3, higher than its 52-week high of $43.3. NIO's sales growth is 149.7% for the current quarter and 98% for the next. The company's growth estimates for the present quarter and the next is 92.9% and 61.5%, respectively. NIO's stock is valued at $48.56 at 15:12 EST, way above its 52-week high of 43.3. NIO's value is way above its 50-day moving average of $25.6 and way above its 200-day moving average of $14.