"The tariff-driven market volatility has been rough on shares of Chinese electric vehicle (EV) maker Nio Inc. ( NYSE: NIO), which in April fell to a multiyear low of $3.02. Shares rebounded afterward. They are now up 56.4% year to date, despite retreating 8.5% in the past week on news of a lawsuit against the company by Singapore's sovereign wealth fund, as well as the departure of some Nio executives."
"From a stock performance standpoint, Nio has been a tale of two stories. When shares debuted on the New York Stock Exchange on Sept. 12, 2018, at $9.90, they struggled to build momentum. Not until the summer of 2020 did the stock begin to surge, gaining over 810% from June 26, 2020, to Feb. 9, 2021, when the stock hit its all-time high of $62.84. Shares have fallen considerably since then, but the long-term outlook remains strong."
Nio experienced tariff-driven volatility that pushed shares to a multiyear low of $3.02 in April before a rebound that left the stock up 56.4% year-to-date. The stock retreated 8.5% over a recent week due to a lawsuit by Singapore's sovereign wealth fund and several executive departures. Shares trade 88.4% higher than six months ago and have outperformed the S&P 500 in that period. Analyst sentiment is cautious, with half of 26 analysts recommending buys and a mean price target of $6.80. Nio's high-performance models and battery-swap technology address range anxiety while the company expands internationally.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]