Better Buy: Nio vs. Rivian Stock
The electric vehicle (EV) hype is far from over. You only have to see the stunning rally in VinFast Auto in the days following its initial public offering (IPO) in mid-August.
VinFast Auto's rally brings back memories of Rivian Automotive's (NASDAQ: RIVN) hot 2021 debut. Rivian stock, however, crashed soon after and is now down a jaw-dropping 77% from its listing date in November 2021. Remarkably, another EV stock that has faced a similar fate to Rivian is (NYSE: NIO), which has fallen almost 75% since late 2021.
Both Rivian and Nio stocks, however, have rebounded of late and have gained more than 45% each in just the past three months, as of this writing. That makes both EV stocks worth your attention now, but which among the two is a better buy today?
Source Fool.com
NIO Inc. Stock
Based on 2 Buy predictions and 1 Sell predictions the sentiment towards NIO Inc. is rather balanced.
With a target price of 5 € there is a positive potential of 41.56% for NIO Inc. compared to the current price of 3.53 €.
