NIO Stock Forecast: Nio Inc snaps a two-day winning streak

  • NYSE: NIO gives up some of its recent gains on Wednesday.
  • Nio rival XPeng has a blowout quarter on record deliveries.
  • Tesla sees its stock fall as the Cybertruck has yet to reach production.

Update, November 25: NYSE: NIO faced rejection near the $43 mark once again and returned to the red on Wednesday, shedding 1.47% to settle at $41.42. In doing so, the Chinese Electric Vehicle (EV) manufacturer snapped its two-day winning momentum, stalling its recovery from four-week troughs of $37.45. The hawkish Fed November meeting’s minutes dampened the sentiment on the Wall Street indices, collaborating with the pullback in NIO stock price.

NYSE: NIO continued its strong start to the week on Tuesday and it received a little help from its main domestic rival. Shares of Nio gained 1.33% during the session and closed the trading day at $42.04. Nio extended its gains, which according to Citigroup analyst Jeff Chung has to do with the company finalizing its recent sale of stock to raise capital. Chung says that the company can now move forward to some positive catalysts, including the upcoming Nio Day Event in December, as well as the release of new models in 2022 and further European expansion. Chung reiterated his buy rating, and stuck to his $87 price target for Nio’s stock.

Stay up to speed with hot stocks' news!

The main catalyst that was moving the Chinese electric vehicle sector on Tuesday was that XPeng (NYSE: XPEV) reported its quarterly earnings in the morning. Nio’s closest domestic rival saw a 187% year over year rise in revenue, and provided guidance for a further 166-182% rise in vehicle deliveries for the fourth quarter. XPeng’s deliveries trumped Nio’s in October, although much of that had to do with Nio preparing its production facilities for the new models that the company will introduce next year. 

NIO stock price

NIO Stock

Electric vehicle industry leader Tesla (NASDAQ: TSLA) experienced a volatile session as it seemed like the stock would carry on higher after Monday’s gains. Instead, shares of Tesla whipsawed into a 4.14% loss for the day as it was revealed that the long-awaited Tesla Cybertruck still does not have a targeted date to begin production. Tesla reports that it has 1.2 million Cybertruck reservations to fulfill, which could put a serious dent into its production capacity once the company finally does begin making the vehicles.

Previous updates

Update: NYSE:NIO trades with a soft tone ahead of Wednesday's close, down 0.61% at $41.78 per share. Wall Street traded dully ahead of the Thanksgiving holiday, and with a soft tone, compliments to soaring US inflation. The core PCE Price index jumped to 4.1% YoY in October, its highest in three decades, fueling speculation the US Federal Reserve may need to tighten further its monetary policy. 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD eases towards 1.1300 as yields pause south-run

EUR/USD is easing towards 1.1300, having faced rejection just shy of 1.1350. The recovery in the risk sentiment pauses the Treasury yields’ south-run, underpinning the US dollar. Fedspeak, US Jobless Claims, Omicron updates in focus ahead of Friday’s US NFP.


GBP/USD drops back below 1.3300 as USD rebounds

GBP/USD is trading below 1.3300, paring back gains amid resurgent US dollar demand. The greenback rebounds with yields on Fed’s hawkish view. Concerns over the Omicron covid variant and Brexit issues continue to limit the pair’s upside. US data awaited amid a light UK docket.


Gold struggles near one-month low, around $1,770 region

The Fed's hawkish outlook prompted fresh selling around gold on Thursday. A stronger USD offset Omicron fears and further weighed on the commodity. The technical set-up supports prospects for a slide to November swing low.

Gold News

Solana price to provide another buy opportunity before SOL tags $250

A brief technical and on-chain analysis on Solana price. Here, FXStreet's analysts evaluate how SOL could be bound for a brief correction.

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!