Why Nio Stock Rallied Monday
(NYSE: NIO) stock jumped today, after one Wall Street analyst boosted his price target on the China-based electric vehicle (EV) maker. It also comes about one week after Nio announced it was raising $1 billion in fresh capital.
Nio shares soared as much as nearly 10% in morning trading, and still held on to a gain of 4.3% as of 2:28 p.m. ET.
Image source: Nio.
Source Fool.com
NIO Inc. Stock
€6.06
-4.160%
The community is currently still undecided about NIO Inc. with 0 Buy predictions and 2 Sell predictions.
A target price of 3 € results in a potential of -50.46% which would mean heavy losses compared to the current price of 6.06 € for NIO Inc..
