Could Buying Nio Stock Today Set You Up for Life?
The Chinese EV maker looks undervalued, but can it impress the bulls again?
Nio (NYSE: NIO) has been a wildly volatile stock since its IPO in 2018. The Chinese maker of electric vehicles went public at $6.26 per share, and it skyrocketed tenfold to a record high of $62.84 during the buying frenzy in meme stocks in February 2021.
However, as of this writing, Nio's stock trades at about $5 per share. The bulls retreated as its deliveries cooled off, its margins shrank, and it racked up steep losses. Could scooping up some shares of this unloved stock below its IPO price help set you up for life?
Nio's Eve concept car. Image source: Nio.
