Nio Jumped on Big News Today: Is the Stock a Buy?
(NYSE: NIO) stock made big gains in Monday's trading. The Chinese electric vehicle (EV) company's share price closed out the daily session up 4.6%, according to data from S&P Global Market Intelligence.
Nio published a press release before the market opened today announcing that it was on track to receive a new round of investment funding from CYVN Holdings -- an Abu Dhabi-based holding company. Per the agreement, CYVN will invest $2.2 billion in Nio and receive 294 million shares of stock at a price of $7.50 per share.
Despite the big pop today, Nio stock is still down significantly across 2023's trading. The company's share price has fallen roughly 14% year to date. Even more striking, the EV stock trades down approximately 87% from the lifetime high that it reached in February 2021.
Source Fool.com
NIO Inc. Stock
The community is currently still undecided about NIO Inc. with 1 Buy predictions and 0 Sell predictions.
With a current price of 4.97 € NIO Inc. is right around the predicted target price of 5 €.
