Nio Is Making Big Moves, but Is the Stock a Buy Now?
It's been a bit of a roller coaster for early investors of the electric vehicle (EV) industry. There have been lofty goals to catch Tesla and harsh realities of the cash crunch that come with manufacturing low volume and expensive EVs.
That said, the temptation of buying into a successful EV maker early is enticing, and if you are considering an investment in the Chinese electric vehicle (EV) maker (NYSE: NIO), then last week brought two intriguing developments. Let's dig in.
Let's start with a key development that sent Nio's stock upward. Nio wrangled in another cash injection from the Middle East when Abu Dhabi-backed fund CYVN Holdings agreed to invest $2.2 billion into the Chinese EV maker.
Source Fool.com
NIO Inc. Stock
€4.40
-1.490%
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 slightly positive potential of 13.64% for NIO Inc. compared to the current price of 4.4 €.
