NIO - Nio's Speeding Up but This AI Stock Is Really Moving
2023-12-05 08:58:03 ET
Wall Street looked poised for another day of lackluster moves early Tuesday morning. Market participants have started to second-guess whether their optimism during November was fully warranted, as inflationary pressures still remain above the Federal Reserve's 2% target. Meanwhile, some worry that the economy might not cooperate, especially if consumers don't have the staying power to make the holiday shopping season the success that so many retailers need. Stock market index futures were down as much as half a percent in the premarket session.
However, electric vehicles (EVs) remain a hotbed of innovation, and Chinese EV manufacturer Nio (NYSE: NIO) saw its stock rise after the company released its most recent financial results. Posting even bigger gains was GitLab (NASDAQ: GTLB) , which has tapped into the artificial intelligence (AI) movement to bolster its business. Here's the latest on both stocks.
Shares of Nio rose about 4% in premarket trading early Tuesday. The Chinese EV company's third-quarter financial results showed massive gains from year-ago levels, offering evidence that demand in China for electric vehicles remains strong.
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Nio's Speeding Up, but This AI Stock Is Really Moving