NIO Stock Forecast: Nio Inc shrugs off geopolitical uncertainty and rises alongside EV sector
|- NYSE:NIO gained 3.71% during Thursday’s trading session.
- Ford has named Nio and Tesla as its primary competition to beat.
- Geopolitical uncertainty remains but Nio is on the right track business-wise.
NYSE:NIO managed to break out of its recent slump on Thursday as the EV sector surged higher to close the day. Shares of Nio rose by 3.71% and closed the trading session at $21.22. It was a remarkable day for the markets as Nio and other stocks began the day trading well below water. All three major US indices managed to rebound into the closing bell as the NASDAQ jumped higher by 3.34%, the S&P 500 gained 1.50%, and the Dow Jones eked out a small gain of 92 basis points, after being down by as much as 859 basis points earlier in the session.
Stay up to speed with hot stocks' news!
In a nice tip of the cap to Nio, Ford (NYSE:F) CEO Jim Farley has named the Chinese EV maker, along with Tesla (NASDAQ:TSLA), as the competition to beat in the sector. While Ford operates primarily in the US, it has released several of its vehicles, including the Mustang Mach-E, to the Chinese market. The acknowledgment from Farley is evidence of how other automakers view Nio around the world and should be a bullish sign for shareholders.
NIO stock price
Despite the ongoing geopolitical uncertainty in Ukraine right now, Nio is still on pace to deliver its strongest year to date. The release of three different models as well as ongoing international expansion has Nio primed for a nice rebound in 2022. The stock has struggled, and China’s alignment with President Putin has cast some doubts over Nio’s path to countries that are included in the NATO pact.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.