Is Nio's Stock a Buy? Another Wall Street Analyst Thinks So.
Shares of Chinese electric-vehicle (EV) maker Nio (NYSE: NIO) were having a good day on Wednesday. As of 2:30 p.m. ET, Nio's American depositary shares were up about 5.1% from Tuesday's closing price, thanks to some upbeat news on pricing and a bullish note from Wall Street.
The pricing news was simple and good: Nio's average transaction price in December was about $69,700, a strong number that was -- according to the company's communications chief, Ma Lin -- second only to Daimler's luxury stalwart, Mercedes-Benz.
That's good news given that Nio hasn't had a new model since the EC6's launch in the third quarter of 2020, a lifetime in China's fast-moving new-vehicle market. Of particular interest: Nio's ES8, its oldest model (dating all the way back to June 2018), had its best month ever for pricing, averaging about $84,400 in December, Ma said.
Source Fool.com
