Why EV Stocks Plunged in June
June 2024 was a rough month for unprofitable electric vehicle (EV) stocks. We saw Fisker file for bankruptcy with a plan to liquidate assets, not restructure in hopes of keeping the business alive. This was a warning for the companies in public markets that are unable to fund themselves long term.
According to data provided by S&P Global Market Intelligence, 's (NYSE: NIO) shares fell 22.8% in June, Nikola (NASDAQ: NKLA) fell 46.7%, and Chargepoint (NYSE: CHPT) fell 10.1%. If conditions don't improve soon, the fall may not be over.
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Source Fool.com
NIO Inc. Stock
€4.40
-1.490%
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 13.64% compared to the current price of 4.4 € for NIO Inc..
