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.

Stocks Reporter FXStreet

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.

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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.

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