Nio Stock Just Popped. Is It Time to Buy?
(NYSE: NIO) shares popped today after the Chinese electric vehicle (EV) maker updated investors on two fronts. Yesterday the company released its third-quarter earnings report, which was well received. But it gave the market even more reason to cheer today.
Nio's American depositary shares are up about 10% this week, including a jump of 5.7% today as of 1:25 p.m. ET.
The rally in Nio shares began after the company reported its third-quarter results yesterday. While revenue of about $2.7 billion was slightly lower than expected, the company reported a much smaller loss than analysts thought it would. It also meaningfully improved that bottom line compared to the second quarter.
Source Fool.com
NIO Inc. Stock
€5.02
0.730%
Our community is currently high on NIO Inc. with 3 Buy predictions and 0 Sell predictions.
On the other hand, the target price of 5 € is below the current price of 5.02 € for NIO Inc., so the potential is actually -0.48%.
