Nio Inc's NIO stock rallied again Wednesday as bullish sentiment in the electric vehicle sector soared. On Tuesday, Citi maintained its Buy rating on the stock and increased its price target from $58.30 to $72. Nio also announced it had accelerated its battery swap charging station program and opened five more stations in Shanghai. The company has now opened 289 of the 500 battery swap stations it plans to have available in China by the end of the year. Dozens of options traders also piled into Nio Tuesday morning and purchased massive amounts of call contracts.