Here's Why Nio Stock Is a Buy Before September

Nio (NYSE: NIO), a major producer of electric vehicles (EVs) in China, has been a disappointing investment over the past few years. Its stock currently trades at about $5 compared to its initial public offering (IPO) price of $6.26 per American depositary share (ADS) in September 2018 and its record closing price of $62.84 in February 2021.Nio initially impressed the bulls with its soaring deliveries, and the buying frenzy in meme stocks amplified those gains. However, its stock pulled back as its deliveries slowed down, and it racked up steep losses. Rising rates drove investors back toward safer investments. The trade war between the U.S. and China made its stock even less appealing.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool