Nio's stock surged approximately 14% in Hong Kong after the company reported second-quarter earnings that exceeded market expectations. Trading on the Hong Kong stock market resumed after being suspended due to a typhoon. As of 3:25 p.m., Nio's stock rose 13.6%. The company plans to launch its second brand, Onvo, with its first model, the L60, on September 19. The stock continued to gain momentum following analyst upgrades and opened up 10% on Tuesday morning. Nio's stock showed a double bottom at 4-year lows, indicating a long-term bottom with increased day trading volatility.