NIO Stock Closed Higher After Second-Quarter Loss Narrows
1. NIO narrowed its operating loss to $567 million, outperforming expectations. 2. Sales increased to $2.7 billion, showing a year-over-year sales rise of 55%. 3. Analyst Jeff Chung expects positive cash flow and improved margins in coming quarters. 4. NIO plans to deliver 89,000 vehicles in Q3, also setting a new quarterly record. 5. Average selling prices dropped to $31,000, impacting overall profit margins amid competition.