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NIO Inc NIO shares are trading higher on above-average volume Monday. The stock appears tobe catching a boost from lower lithium prices in China.

What To Know: The prices of lithium, a key material used for battery production,continueto trend lowerin China, according to a CnEVPost report.

The report indicates that battery-grade lithium carbonate in the country fell more than $1,800 over the weekend.

Current prices are sittingaround $45,400, marking close to a4% slide in less than three days. The decline adds to a trend of falling prices that has continued since late November.

According to an Investor's Business Daily report, spot prices more than tripled between November 2021 and November 2022 amid low supply volumes. The report suggests that the shortfall is leading to oversupply in 2023.

Several U.S.-listed Chinastocks are trading higher Monday, so Nio may also be moving higher amid overall strength in China-based names.

Nio's average session volume over a 100-day period is approximately 40 million, according toBenzinga Pro. Monday's average trading volume has already exceeded 45 million in early afternoon trading.

See Also:5 Best Chinese Stocks Right Now

NIO Price Action: Nio shares have a 52-week high of $24.42 and a 52-week low of $8.03.

The stock was up 4.94% at $8.67 at time of publication, according toBenzinga Pro.

Photo: courtesy of Nio.

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BTC’s ‘reasonable’ $180K target, NFTs plunge in 2024, and more: Hodler’s Digest Jan 12 – 18

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BTC’s ‘reasonable’ 0K target, NFTs plunge in 2024, and more: Hodler’s Digest Jan 12 – 18

Bitcoin’s $180,000 price target remains on the table, says a trader, while 2024 marks the worst year for NFTs since 2020: Hodler’s Digest.

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Director Claire van Kampen dies on husband Mark Rylance’s birthday

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Director Claire van Kampen has died, aged 71, on the 65th birthday of her husband, Sir Mark Rylance.

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Rangers P deGrom (elbow) throwing, ‘feels good’

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Rangers P deGrom (elbow) throwing, 'feels good'

ARLINGTON, Texas — Two-time Cy Young Award winner Jacob deGrom already has thrown off the mound this offseason and said everything felt normal after missing most of his first two seasons with the Texas Rangers because of elbow surgery.

The three starts deGrom got to make in September were significant for him.

“That way I could treat it like a normal offseason and not feel like I was in rehab mode the whole time,” he said Saturday during the team’s annual Fan Fest. “So that’s what this offseason has been, you know, normal throwing. Been off the mound already and everything feels good.”

The right-hander said he would usually wait until Feb. 1 before throwing, but he started earlier this week so he could ramp up a bit slower going into spring training.

DeGrom, 36, has started only nine games for the Rangers since signing a $185 million, five-year contract in free agency two winters ago. They won all six starts he made before the end of April during his 2023 debut with the team before the surgery. After rehabbing most of last year, he was 3-0 with a 1.69 ERA and 14 strikeouts over 10⅔ innings in those three September starts.

“One of the things I’m most excited about is a healthy season from Jacob, and for our fans to see what that looks like, and how good he is,” Rangers president of baseball operations Chris Young said. “It’s just electric, and coming to the ballpark every day that he’s pitching, knowing that we’ve got a great chance to win the game, it’s an exciting feeling. Our fans truly haven’t experienced that over the course of a season. We’re excited and hopeful that this is the year they get to see that.”

Since his back-to-back Cy Young Awards with the New York Mets in 2018 and 2019, deGrom hasn’t made more than 15 starts in a season. He started 12 times during the COVID-19-shortened 60-game season in 2020.

DeGrom had a career-low 1.08 ERA over 92 innings in 2021 before missing the final three months with right forearm tightness and a sprained elbow, then was shut down late during spring training in 2022 because of a stress reaction in his right scapula. He went 5-4 with a 3.08 ERA in 11 starts over the last two months of that season before becoming a free agent.

His fastball touched 98 mph in the last of his three starts last season, when he pitched four innings of one-run ball against the Los Angeles Angels.

“In those games, you know, it’s still a thought in the back of your mind, you just came back from a major surgery and you probably don’t get another one at my age,” he said. “So it was, hey, is everything good? And then like I said, was able to check those boxes off in this offseason, treat it normal.”

Now deGrom feels like he can start pitching again without worrying about being injured.

“Just throw the ball to the target and not think about anything,” he said. “So, yeah, I think I can get back to where I was.”

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