NIO Inc (NYSE: NIO) stock surged last year, culminating at an all-time high of $66.99 at the beginning of this year.
But the Chinese electric vehicle maker has since seen its shares drop, and as of April 7, 2021, they were trading at $37.87. However, despite this recent dip, the stock still presents a striking investment opportunity.
In mid-December last year, the stock dipped following concerns that Chinese firms will be delisted from US exchanges if they didn’t comply with US audit standards. Its recent slump in February came following concerns that Tesla (NASDAQ: TSLA) was gaining traction in the Chinese market after it started to produce Model Y. Despite this, the company found itself caught in the wide sell-off of tech stocks.
Nevertheless, investment analysts are bullish about the company’s prospects. Therefore, investing in Nio is backing the company’s products and strategy and an investment in future electric cars. However, Nio is in a solid position to rally this year, and it is a stock to watch.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.