's (NYSE: NIO) stock surged 12% on May 1 after the Chinese electric-vehicle maker posted its latest delivery numbers. In April, it delivered 15,620 vehicles, representing 135% growth from a year ago and 32% growth from March.
That acceleration indicated that Nio's business was stabilizing, but its stock still trades 16% below its initial public offering (IPO) price of $6.26 per American depositary receipt. Let's review the main reasons to buy, hold, and sell Nio's stock to see if it's a contrarian play on the EV market.
Image source: Nio.
Source Fool.com