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
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%.