What happened Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) opened higher on Monday, after a regulatory filing revealed that Tencent Holdings (OTC: TCEHY) has boosted its stake in the company. As of 10:15 a.m. EDT today, NIO's American depositary shares (ADS) were up about 5.5% from Friday's closing price. So what In a filing with the Securities and Exchange Commission on Friday, NIO revealed that Tencent Holdings bought 1,680,000 ADS of NIO in its secondary share offering earlier this month, raising its total stake to 15.1% of the company. Tencent has been an investor in NIO since investing $510 million before its initial public offering in September 2018. The Chinese tech giant and its subsidiaries invested a total of $130 million in NIO's convertible notes in 2019; those notes will convert to shares later this year, in 2022, and in 2024. It also acquired about 141,000 ADS in April 2019 via a distribution from a Sequoia Capital venture fund. A revamped version of NIO's ES8, with longer range and new technology, hit the market earlier this year. Image source: NIO. Now what NIO's shares have risen over 80% in 2020, on growing investor interest in China's electric-vehicle market and following a major investment from economic-development authorities in Anhui province, China's industrial hub, in April. In light of that dramatic year-to-date run, most Wall Street analysts are urging auto investors to exercise some caution, via hold ratings and price targets that reflect a consensus view that a retracing is likely. One who isn't: Goldman Sachs analyst Fei Fang, who earlier this month raised his rating on NIO to buy, from neutral, with a price target of $6.40. 10 stocks we like better than NIO Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and NIO Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2020 John Rosevear has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tencent Holdings. The Motley Fool has a disclosure policy.Source