Nio (NYSE:NIO) closed Monday at $5.34, up 4.71% with trading volume hitting 68.1 million shares. Nio IPO’d in 2018 and is down 19% since. The S&P 500 fell 0.33%, Nasdaq dropped 0.50%, and Tesla and Li Auto shares also declined.

Nio expands with new brands, delivering over 40,000 vehicles in October and another record month in November. CEO William Li predicts a Q4 record of over 45,000 units in December. Nio stock rises as the company increases reliance on CATL for batteries.

Join Stock Advisor for the 10 best stocks to buy now. Stock Advisor’s total average return is 991%, outperforming the S&P 500 at 196%. Howard Smith has positions in Nio and Tesla, while The Motley Fool recommends Tesla.

Read more at Nasdaq: Stock Market Today, Dec. 29: Nio Rises on CEO Forecast for Over $4 Billion in Fourth Quarter Vehicle Sales