1 Green Flag and 1 Red Flag for Nio's Future
(NYSE: NIO) was one of the market's hottest electric vehicle (EV) stocks. The Chinese EV maker went public at $6.26 per American depositary share (ADS) five years ago and closed at its all-time high of $62.84 on Feb. 9, 2021. But today, it trades at about $8.
Nio initially impressed investors by more than doubling its annual deliveries in 2020 and 2021. But in 2022, its deliveries only rose 34% as it grappled with intermittent COVID-19 lockdowns, supply chain constraints, extreme weather conditions, and intense competition. In the first half of 2023, its deliveries inched up just 7% year over year.
Image source: Nio.
Source Fool.com
NIO Inc. Stock
€3.91
5.070%
Our community is currently high on NIO Inc. with 3 Buy predictions and 0 Sell predictions.
With a target price of 5 € there is a positive potential of 27.78% for NIO Inc. compared to the current price of 3.91 €.
