Is It Time to Sell NIO and Buy This EV Stock Instead?
Investors began buying into Chinese electric-vehicle (EV) maker NIO (NYSE: NIO) in droves last year, hoping to get in on the next Tesla (NASDAQ: TSLA). NIO has made a major turnaround since its business was in trouble in early 2020, and it traded below $2.50 per American depository share.
Since then, a government rescue plan and expansion in China's EV market have resulted in the stock exploding more than 2,000% higher. But with a valuation closing in on $100 billion, for future gains, investors looking for a Chinese EV maker would be wise look into Warren Buffett-backed BYD (OTC: BYDDY) instead.
Image source: BYD.
Source Fool.com
