Prediction: This Will Be Nio's Next Big Move
It might be hard for investors to get excited about a company that has lost nearly $1.5 billion from its operations in the first half of this year. In fact, Chinese electric vehicle (EV) maker (NYSE: NIO) has never made a profit.
That helps explain why the stock has lost more than 80% of its value over the past three years. But there was also some meaningful and positive news in Nio's second-quarter report. That business momentum has translated to the stock price, as Nio's American depositary shares have surged more than 40% in the last month.
The company's market cap is now at about $11 billion, and the EV maker ended the quarter with $5.7 billion in cash and equivalents. That makes now a good time to look at what Nio's next big move will be and whether it's a stock that should be in your portfolio.
Source Fool.com
