Why ChargePoint, Nikola, and Nio Stocks All Crashed in October
It was a tough month for investors in the electric vehicle (EV) sector, with negative headlines on multiple fronts. For long-term investors, though, that makes it a good time to analyze whether the drops are opportunities to add shares or see if the new reality is thesis-changing.
EV charging station network company ChargePoint (NYSE: CHPT) lost a whopping 48.9% last month. The stocks of electric heavy truck maker Nikola (NASDAQ: NKLA) and Chinese EV maker (NYSE: NIO) dropped by 31.2% and 19.2%, respectively, according to data provided by S&P Global Market Intelligence.
For one of these names, a bit of news in the sector last month could indeed mean it's time to sell and move on.
Source Fool.com
NIO Inc. Stock
€3.85
7.540%
Currently there is a rather positive sentiment for NIO Inc. with 3 Buy predictions and 1 Sell predictions.
As a result the target price of 5 € shows a positive potential of 29.9% compared to the current price of 3.85 € for NIO Inc..
