NIO stock holders should get ready as Tesla’s Model 3 now has a sleek, powerful competitor
There’s no denying it: Chinese electric-vehicle (EV) maker Nio (NYSE:NIO) disappointed investors in 2021. Even while the company’s vehicle-delivery numbers were impressive, NIO stock just kept falling.
Perhaps we could blame the new Covid-19 variant, omicron or the global shortage of microprocessors and other tech components. Also, we could cite China’s persistent crackdown on a multiplicity of businesses over cybersecurity concerns and anticompetitive practices.
At the end of the day, however, Nio will determine the performance of NIO stock. And as Nio steps boldly into the fiercely competitive electric-sedan niche, a turnaround by its stock could be just around the bend.
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