Where Will Nio Stock Be in 3 Years?
(NYSE: NIO), a major manufacturer of electric vehicles (EVs) in China, went public just over six years ago at $6.26 per American depositary receipt (ADR). It initially impressed investors with its soaring deliveries, and its stock soared to a record high of $62.84 on Feb. 9, 2021.
But today, Nio's stock trades at about $6.50. The bulls retreated as its deliveries cooled off, its margins declined, and it racked up more losses. Rising rates compressed its valuations and the macro headwinds in China exacerbated that pressure. Could this out-of-favor EV stock bounce back and set new all-time highs over the next three years?
Image source: Nio.
Source Fool.com
