NIO Stock Forecast: Nio Inc surges as investors say enough is enough and buy the dip
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Subscribe to Premium- NYSE: NIO gained 14.76% during Thursday’s trading session.
- Nio hit its lowest levels in more than a year, and investors bought the dip.
- Chinese EV stocks skyrocket ahead of December delivery reports.
NYSE: NIO bounced off its support in a big way on Thursday as the Chinese EV maker reversed its recent downtrend. Shares of Nio rallied by a staggering 14.76% on Thursday, releasing weeks of pressure that has been weighing the stock down. Nio closed the trading day at $32.42, as the stock managed to reclaim the $30 price level it had been fighting hard to hold. It was a mostly flat day for the broader markets as all three major indices inched lower during the second last trading session of the year. Growth stocks managed to bounce back, although the tech-heavy NASDAQ index still finished the day lower by 0.16%.
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After Nio hit a 14-month low on Wednesday, it was the perfect recipe for a rebound on Thursday. Shares of Nio have been floundering as of late, losing 15% over the past month and 39% year to date. Investors have been faithful to Nio, despite erasing most of the gains the stock had seen before 2021. Wednesday’s low price was an opportunity to buy the recent weakness in the stock, and with some catalysts around the corner for the company, this could serve as a launching point for 2022.
NIO stock price
One of those catalysts that is coming up for Nio is the monthly delivery report set to be released early next week. Perhaps investors are bullish on the early estimates as Nio’s domestic rivals also soared on Thursday. XPeng (NYSE: XPEV) and Li Auto (NASDAQ: LI) jumped by 9.96% and 8.60% respectively. Not as impressive a day as Nio, but still a sign that investors believed the Chinese EV sector to be reaching oversold territory.
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- NYSE: NIO gained 14.76% during Thursday’s trading session.
- Nio hit its lowest levels in more than a year, and investors bought the dip.
- Chinese EV stocks skyrocket ahead of December delivery reports.
NYSE: NIO bounced off its support in a big way on Thursday as the Chinese EV maker reversed its recent downtrend. Shares of Nio rallied by a staggering 14.76% on Thursday, releasing weeks of pressure that has been weighing the stock down. Nio closed the trading day at $32.42, as the stock managed to reclaim the $30 price level it had been fighting hard to hold. It was a mostly flat day for the broader markets as all three major indices inched lower during the second last trading session of the year. Growth stocks managed to bounce back, although the tech-heavy NASDAQ index still finished the day lower by 0.16%.
Stay up to speed with hot stocks' news!
After Nio hit a 14-month low on Wednesday, it was the perfect recipe for a rebound on Thursday. Shares of Nio have been floundering as of late, losing 15% over the past month and 39% year to date. Investors have been faithful to Nio, despite erasing most of the gains the stock had seen before 2021. Wednesday’s low price was an opportunity to buy the recent weakness in the stock, and with some catalysts around the corner for the company, this could serve as a launching point for 2022.
NIO stock price
One of those catalysts that is coming up for Nio is the monthly delivery report set to be released early next week. Perhaps investors are bullish on the early estimates as Nio’s domestic rivals also soared on Thursday. XPeng (NYSE: XPEV) and Li Auto (NASDAQ: LI) jumped by 9.96% and 8.60% respectively. Not as impressive a day as Nio, but still a sign that investors believed the Chinese EV sector to be reaching oversold territory.
Like this article? Help us with some feedback by answering this survey:
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