Nio Stock: Bull vs. Bear
Nio (NYSE: NIO) went public in the U.S. in 2018, but it wasn't until 2020 that Wall Street seemed to notice the Chinese electric vehicle (EV) stock. Nio rallied a jaw-dropping 1,110% in 2020, with nearly all of those gains coming in just the second half of the year. Sales of EVs were booming in China, and the company's deliveries were hitting record highs month after month.
Cut to 2022, and Nio stock is trading at one-third of its all-time highs right now. Geopolitical concerns, COVID-19 lockdowns in China, and tighter scrutiny on foreign companies listed in the U.S. are just some of the reasons Nio lost momentum over the past year or so.
But the company is trying hard to convince investors about its growth potential with new launches, new factories, and entry into new markets. The market's paying attention, too, and has driven its shares higher in recent weeks.
Source Fool.com
