Should You Buy Nio Stock While It's Still Below Its IPO Price?
's (NYSE: NIO) stock surged 14% on Sept. 5 after the Chinese electric vehicle (EV) maker posted its second-quarter report. Its revenue rose 99% year over year to 17.45 billion yuan ($2.4 billion) but missed analysts' estimates by $40 million. It narrowed its adjusted net loss per American depositary share (ADS) from 3.28 yuan to 2.21 yuan ($0.30), which matched the consensus forecast.
Nio didn't hit a home run, but its soaring deliveries, rising vehicle margins, and rosy guidance suggested it was reaching an inflection point. Should investors buy this oft-overlooked EV stock while it still trades more than 20% below its IPO price?
Image source: Nio.
Source Fool.com
NIO Inc. Stock
€4.86
-2.470%
Currently there is a rather positive sentiment for NIO Inc. with 3 Buy predictions and 0 Sell predictions.
As a result the target price of 5 € shows a slightly positive potential of 2.94% compared to the current price of 4.86 € for NIO Inc..
