Nio Stock Bounces Back: Should You Buy Now or Wait?
Investors in Nio (NYSE: NIO) have waited for a day like this for a long time now. Yes, it's April Fools' Day, but it's no joke.
On April 1, Nio said it delivered a record number of electric vehicles (EVs), totaling 25,768 units, in the quarter ending March. Although that's barely 3% higher compared to the last quarter, expectations were even more muted given the severe supply challenges facing automakers like Nio. Semiconductor chips continue to be in short supply, and prices of key raw materials and parts for EV makers such as nickel, lithium, and batteries have shot through the roof in recent weeks.
Nio shares jumped more than 8% at one point this morning on the news. It's not every day that this stock jumps as much. In fact, Nio was up almost 10% this week through 1 p.m. ET Friday.
Source Fool.com
