Is Nio Stock a Buy Now?
(NYSE: NIO) posted its first-quarter earnings report on June 9. The Chinese electric-vehicle (EV) maker's revenue rose 8% year over year to a U.S. equivalent of $1.55 billion, which missed analysts' estimates by $80 million. Its adjusted net loss more than tripled to $604 million, but its adjusted loss of $0.36 per American depositary share still cleared the consensus forecast by a nickel.
Those numbers were a mixed bag, but Nio's stock barely budged after the report and remains nearly 90% below its all-time high from February 2021. Should investors take the contrarian view and buy this unloved stock anyway?
Image source: Nio.
Source Fool.com
