NIO Stock Is Suddenly on Fire. This Is Why.
Stock in the Chinese electric-vehicle maker NIO has gone from down in the dumps to king of the hill, with seven straight days of gains. Technical factors, rather than developments that would affect earnings, appear to be behind the shift.NIO stock was a can’t miss bet for months. Shares gained more than 1,100% in 2020, closing at around $49. They raced to almost $67 early this year, but stalled out and fell to less than $32 last month. New competition in China’s EV market, confusion over delive