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Is Nio Stock a Buy Now?

TheMotleyFool

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(NYSE: NIO) stock has surged over 75% this year as of Oct. 6, recently topping $7 per share for the first time in nearly 12 months. While that's a far cry from its all-time high of $66.99 in January 2021, it's a clear sign that investors are starting to take notice of the company's recent turnaround.

Buyers are embracing Nio's expanded lineup of new and refreshed electric vehicles (EVs). Still, Nio shares have plunged nearly 90% from their 2021 peak. With momentum starting to shift, is this a good time to start a position in Nio? Let's take a closer look at the Chinese EV maker.

Image source: Getty Images.

Source Fool.com