After a few weeks of pulse-checks on others in the EV space, Aaron and I revisit Nio (NYSE:NIO). COVID lockdowns and supply chain shakeups in China have been weighing on the company, but now things seem to be easing.
Shanghai has moved to end its two-month lockdown, giving hope that any new lockdowns in the future will be shorter and much less intense. The Chinese economy can’t withstand more dramatic slowdowns, and citizen pushback against strict lockdowns is getting stronger. This means that COVID protocols won’t be a deterrent to production. And EV stocks are catching a bid on that — Nio stock included.
The company already has very strong demand and has now successfully expanded into Europe. And I’m hearing murmurs that the company is trying to break into the U.S. market. If supply chains continue to normalize, Nio is facing really tremendous sales growth. And Nio stock could skyrocket.
Catch the full episode at Hypergrowth Investing on YouTube.
The post Nio Stock Soars! Will It Continue? appeared first on InvestorPlace.