Why Nikola Soared, Nio Dropped, and VinFast Crashed Last Month
The returns from early stage electric vehicle (EV) company stocks were all over the place in September as investors try to decide which will thrive and which might not survive.
While Nikola (NASDAQ: NKLA) shares soared higher by 33%, newcomer VinFast Auto (NASDAQ: VFS) plunged 64%, according to data provided by S&P Global Market Intelligence. Amidst those substantial moves was the 12% decline in Chinese EV maker 's (NYSE: NIO) American depositary shares.
Nio was coming off two consecutive months of record deliveries, but investors have been getting nervous about macroeconomic conditions in China. Nio has since reported its September vehicle delivery data, and it seems investors were right not to be too optimistic.
Source Fool.com
NIO Inc. Stock
€4.51
-0.040%
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the NIO Inc. stock is not clear.
As a result the target price of 5 € shows a slightly positive potential of 10.89% compared to the current price of 4.51 € for NIO Inc..
