The electric vehicle industry has faced multiple headwinds in the last 12 months. Be it chip shortage or broader supply chain issues, industry growth has been impacted. Raw material inflation also threatens to impact sales as electric vehicle (EV) companies increase their selling prices. However, beyond these temporary headwinds, the EV industry is poised for growth over the next decade. The correction in EV stocks, therefore, provides a potentially-attractive entry opportunity. Nio (NIO) stock is one name from the Chinese electric vehicle industry that looks attractive. In the recent market meltdown, Nio stock corrected to lows of $11.67.
https://www.tipranks.com/news/article/nio-stock-is-well-positioned-to-rally-further?utm_source=advfn.com&utm_medium=referral
NIO (NYSE:NIO)
Historical Stock Chart
From Aug 2022 to Sep 2022 Click Here for more NIO Charts.
NIO (NYSE:NIO)
Historical Stock Chart
From Sep 2021 to Sep 2022 Click Here for more NIO Charts.