The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.

NIO Inc. (NYSE:NIO) is one of the 9 Stocks With Unbelievable Gains.

EV-maker NIO Inc. saw its share prices jump by 9.32 percent on Wednesday to close at $5.75 apiece, as investors cheered the official launch of its newest and largest sports utility vehicle (SUV) to date.

Called the ES9, NIO Inc. (NYSE:NIO) expects the new vehicle to redefine the benchmark for flagship SUVs, offering a signature design, exceptional space, advanced intelligence, refined comfort, and comprehensive safety. It features more than 40 industry-first technologies and nearly 40 class-leading configurations.

NIO ES9

Pre-sales kicked off on April 9 and were officially launched on Wednesday.

Chinese basketball legend Yao Ming was tapped as the variant’s official ambassador to represent the SUV to highlight its spaciousness and luxury.

The rally can also be partly attributed to portfolio positioning ahead of its May vehicle delivery update on Monday, June 1, supported by the strong delivery figures from the first four months of the year.

In April alone, vehicle deliveries jumped by 22.8 percent year-on-year, albeit at a slower pace than the 136 percent growth in March, 57.6 percent in February, and 96.1 percent in January.

In other news, NIO Inc. (NYSE:NIO) is set to hold an annual shareholders’ meeting in Beijing on June 24 (June 23 EST). Investors are expected to watch for business updates and the outlook for the rest of the year.

While we acknowledge the potential of NIO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Disclosure: None. Follow Insider Monkey on Google News.