Earlier this month, Deutsche Bank’s Edison Yu issued a Catalyst Call on Nio (NIO) stock, recommending it as a short-term play, based on the premise the stock was ripe for a turnaround after falling ~30% from February's peak. The idea did not work out as planned initially. While Yu concedes his call might have been too early as he underestimated a number of “tactical factors,” the analyst sees several reasons why investor sentiment “should be close to bottoming.” Well, it appears the market has been taking notes, as shares climbed 7% higher in Monday’s session.
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NIO (NYSE:NIO)
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NIO (NYSE:NIO)
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