China-based EV maker NIO announced delivery results for October 2021, revealing a delivery of 3,667 vehicles. The company saw an increase of 3.6% in shares to close at $40.84 on Monday, reversing following earlier weaknesses. The stock initially dropped after the company reported a 27.5% year-over-year dip in October vehicle deliveries. The restructuring and degradation of manufacturing lines added to the drop. Moreover, global supply chain volatility and the groundwork for new product introduction also added to the decline.Even though NIO faces some challenges, the company recorded an all-time high in October due to rising demand. These strengths could be attributed to US infrastructure optimism and investors’ weigh-in of US President Biden’s speech at the COP26 climate summit, where he addressed climate change goals.Overall, a total of 145,703 vehicles deliveries stood as of 31 October 2021. Wall Street’s Take and Notable website trafficAnalyst concluded a Strong buy based on 8 Buys and 1 Hold. The average NIO price target is currently $58.57 which implies an upside potential of 43.41% from current levels. Shares have gained 22.57% over the past year.According to TipRank’s Website traffic tool, which offered insight into NIO’s performance, the company’s website recorded a staggering 169.28% monthly growth, year-over-year in visits globally in September.NIO has a 52-week high of $66.99 and a 52-week low of $30.03 and will report its third-quarter 2021 results on 9 November, after the markets close.To invest in NIO, visit MEXEM today.