Can NIO Maintain Its Momentum?

Summary

The stock is currently in a bullish trend, with a 2024 price target of $6.70, driven by favorable RSI and VPT signals.
Vehicle deliveries surged to 57,373 units, a 143.9% YoY increase, boosting vehicle sales revenue by 118.2% from Q2 2023.
NIO’s vehicle margin improved to 12.2% from 6.2% in Q2 2023, driven by lower material costs and production efficiencies.
Despite rising SG&A expenses and potential share dilution, NIO remains well-positioned for future growth with a robust infrastructure strategy.

Robert Way

Investment Thesis

NIO (NYSE:NIO) has surged by more than 25% since our last coverage in July, entering a clear bullish trend and validating our previous technical analysis. The upward momentum is supported by strong technical indicators, such as the

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