Nio Stock: Buy, Sell, or Hold?
The Chinese EV maker looks like an undervalued growth stock.
Nio (NYSE: NIO) was one of the market's hottest electric vehicle (EV) stocks just over four years ago. The Chinese EV maker's stock closed at its record high of $62.84 on Feb. 9, 2021, marking a 10-fold gain from its IPO price of $6.26 on Sept. 12, 2018.
At the time, Nio's investors were dazzled by its soaring deliveries, its unique battery-swapping vehicles, and the expansion of its battery-swapping network. The buying frenzy in meme and growth stocks amplified those gains.
Image source: Nio.
