How does NIO stock compare to other EV companies? Is NIO stock the best EV? Both great questions, and in this video I go over a stock update for NIO and run through an updated NIO analysis, as well as some information addressing why NIO could potentially be the best EV company available right now. The main competitors of NIO include Xpeng, Li Auto, WM Motor, and of course, Tesla.
For those who haven’t been keeping up with NIO recently, here is a little background. NIO dropped recently but recovered nicely, but they also didn’t drop nearly as much as expected because a German bank analyst gave NIO a new price target of $24, which is great news and a very bullish sign for NIO. Then they continued upwards and hit a new high today, September 30 but slowed down and pulled back to the $21 range, which is looking like a potential area of support.
Some other news regarding NIO, if you missed the last few videos, NIO ended up selling 88.5 million shares and they originally only planned to sell 75 million shares, and they sold these shares at a price of $17 per share, while the price was at $18.50 at market close on that previous Friday. NIO stock also has a lot of potential, and they are currently competing with Tesla over in China, which is pretty huge because not many companies can compete with Tesla. NIO also just mentioned how they are going to release the battery-as-a-service.
This battery service will allow NIO customers to lease the battery rather than having to buy an entire ES6, EC6, or ES8, greatly reducing the price to own an electric vehicle. This could also cause people to question “Is NIO the next Tesla?” NIO also has a potential deal with Intel to create robotaxis by the year 2022 and this could be huge for NIO and NIO’s share price. Also, will NIO stock hit $30 because of this deal, or will NIO hit $30 well before then, possibly by the end of the year? Stick around because you don’t want to miss this one. Also, if you’re reading this, leave a comment about what your favorite EV stock is, I’d love to hear it!
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