Nio‘s stock surged in the third quarter of 2025, more than doubling from the closing price of $3.51 on July 1 to $7.62 on September 30.

Amid the surge, the number of shares held by institutions has also jumped by more than 100 million.

According to Nasdaq, and as of Tuesday, a total of 480 investors collectively hold around 316 million shares in the Shanghai-headquartered EV maker.

By the end of the second quarter, Fintel data shows institutional investors held just under 200 million shares, indicating a 58% jump in the number of shares held by institutional shareholders.

Earlier this year, the company reached its lowest level of institutional ownership, continuing a decline from the peak of nearly 600,000…