Stock Market Today, Feb. 23: Nio Jumps on Record Lunar New Year Battery Swaps

The Motley Fool

by newsfeedback@fool.com (Howard Smith)

February 23, 2026

AI-Generated Deep Dive Summary

Nio (NYSE:NIO) saw its stock rise by 4.34% on Feb. 23, closing at $5.29, following a record-breaking Lunar New Year period where the company completed 1 million battery swaps in less than a week. This milestone highlighted Nio's growing network scale and reinforced investor confidence in its subscription service revenue model. Despite overall market declines, with the S&P 500 dropping 1.01% to 6,840 and the Nasdaq Composite falling 1.13% to 22,627, Nio's strong performance stood out amid broader pressure on high-growth EV stocks like Tesla (down 2.91%) and Rivian Automotive (down 2.03%). Trading volume for Nio reached 52 million shares, a nearly 15% increase compared to its three-month average of 45.2 million shares. The record battery swaps during the Lunar New Year not only underscored Nio's ability to scale its services but also signaled sustained demand for its battery-as-a-service model. This service-focused approach has been a key differentiator for Nio, allowing it to compete in the electric vehicle market while managing the challenges of a post-IPO decline that has seen its stock fall 20% since listing in 2018. Investors are closely monitoring whether this surge in activity will translate into long-term revenue growth and further solidify Nio's position as a leader in China's EV ecosystem. The broader market downturn, particularly among growth stocks, reflects ongoing concerns about economic conditions and interest rate hikes. While Nio's recent performance has been positive, the company must continue to demonstrate consistent demand and profitability to counteract headwinds such as institutional selling and approaching resistance levels. For finance enthusiasts and investors, this story highlights the importance of balancing innovation with market realities in the EV sector, where competition is fierce and investor sentiment can shift rapidly.

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Originally published on The Motley Fool on 2/23/2026