3 reasons why NIO remains attractive to investors even when its price is falling from its 1-month high of $16++ to $10++.

Hello Mooers!

For the past 30 days, it has been a roller coaster ride for $Futu Holdings Ltd(FUTU.US)$ Mooers who invest in NIO ( $NIO Inc(NIO.US)$ , $NIO-SW(09866.HK)$ , $NIO Inc. USD OV(NIO.SG)$ ). In the first few days of August 2023, Mooers see NIO rising to almost $16. However, for the past few days, NIO have been moving downwards and now it is priced in the range of $10 to $11.

Although NIO is on the downward trends for the past few weeks, it continues to be attractive to investors.

Without further ado, here are 3 reasons why it continues to remain attractive.

The first reason is that its vehicle delivery has been on the rise for the past 3 months. This is a good news for investors as it shows that the business continues to grow for the EV startup.

The second reason is that a 4.5 stars analysts from the BofA ( $Bank of America(BAC.US)$ ) Securities had given it a buy rating with a target price of $16.2.

However, it may not be surprising if NIO beat expectations in their earnings report, given that Tesla ( $Tesla(TSLA.US)$ ), Lucid ( $Lucid Group(LCID.US)$ ), Li Auto ( $Li Auto(LI.US)$ ) and Rivian ( $Rivian Automotive(RIVN.US)$ ) all have better revenue (yoy) in their earnings report.

We have come to the end of today's topic. Remember to show your support by follow, like, share and comment on this post and as always, don't forget to DYODD (Do your own due diligence) when making any kind of investment.

Mooers may also like: