- Nio(NYSE:NIO) -- NIO is a great Chinese EV stock to invest in. Since the start of the year, due to the issues caused by the Chinese regulatory sector, Nio is trading at an incredible discount to its 52-week highs, making it very attractive to Wall Street analysts.
The increased number of cheap stocks available makes the current bear market fairly attractive to investors. However, this provides risk and entails some work sifting through the various low-ball stocks to find a diamond in the rough.
Therefore, it is important to know and understand the sentiments ofWall Streetanalysts before you make your stock picks so you can see what others are thinking about the market.
Nio (NIO)
Source: Robert Way / Shutterstock.com
Nio (NYSE:NIO) is a Chinese EV startup company making waves in the industry. It is one of the most popular EV startups in China and has been dubbed theTesla(NASDAQ:TSLA) of China.
Nio’s CEO, William Li, believes that EVs can be an important part of China’s future and aims to help shape it by developing a high-quality EV brand.
For the last few years, NIO has been on fire. In 2021,NIO delivered 91,429 vehicles in total. This is a 109.1% year-over-year growth that demonstrates the capabilities and strength of the company. NIO had36,721 cars in 2020— an increase of 111.1% over the prior year. Due to this exceptional performance, the stock increased manifold.
However, the stock came under a lot of pressure because of regulatory constraints from China. It has led to many quality cheap stocks in the Chinese space, and NIO stock is no exception.
Nevertheless, the Chinese EV maker islooking to take back the initiative this yearby launching three new models, a fresh listing in Singapore, and expansion in Europe. Since the stock is trading at a historical low, the time to get into the action is now.
Comments