NIO Stock Price: Nio Inc rises as Deutsche Bank makes it a fresh pick for 2022

Stocks Reporter FXStreet

NYSE:NIO gained 2.24% during Thursday’s trading session.
Deutsche Bank adds Nio’s stock to 2022’s fresh money list.
Nio is looking to join forces with BYD to create a new mass market brand.

NYSE: NIO entered the Christmas break on a high note as a slew of good news pushed the stock back over the $30 price level. Shares of Nio gained 2.24% and closed the final trading session of the week at $30.52. It was a third straight day of gains for all three major indices, as Santa Claus did in fact visit Wall Street before Christmas. The NASDAQ continued its resurgence, gaining 0.85% to pace the broader markets. Meanwhile the Dow Jones added 196 basis points and the S&P 500 climbed by 0.62% to close the week.

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Despite Nio’s recent volatility, a noted bull has once again put his support behind the Chinese EV maker. Deutsche Bank analyst Edison Yu has added Nio to the fresh money list for 2022, citing that much of the concerns investors have in Nio are already baked into the stock price. Yu notes that 2022 could be a banner year for Nio with the company doubling its production capacity, releasing several new models, and expanding further outside of China. Yu is also looking long-term with Nio, as he pointed out the 25 country expansion by 2025 as another key that makes Nio’s current stock price an attractive one.

NIO stock news

Nio has also announced that it is in discussions with Warren Buffett-backed BYD to launch a brand new mass market brand in China. This new brand would provide an affordable electric vehicle for the masses, and give Nio a foothold outside of the luxury electric vehicle market. No further details about a timeline have been revealed, but it does mesh with Nio’s announcement of launching three vehicle models in 2022.

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Stocks Reporter

FXStreet

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