Nio Is Making Big Moves, but Is the Stock a Buy Now?
It's been a bit of a roller coaster for early investors of the electric vehicle (EV) industry. There have been lofty goals to catch Tesla and harsh realities of the cash crunch that come with manufacturing low volume and expensive EVs.
That said, the temptation of buying into a successful EV maker early is enticing, and if you are considering an investment in the Chinese electric vehicle (EV) maker (NYSE: NIO), then last week brought two intriguing developments. Let's dig in.
Let's start with a key development that sent Nio's stock upward. Nio wrangled in another cash injection from the Middle East when Abu Dhabi-backed fund CYVN Holdings agreed to invest $2.2 billion into the Chinese EV maker.
Source Fool.com
NIO Inc. Stock
€4.11
-1.930%
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the NIO Inc. stock is not clear.
As a result the target price of 5 € shows a positive potential of 21.8% compared to the current price of 4.11 € for NIO Inc..
