Jermaine Filmore
As the Chinese economy recovers, Nio stock sees impressive long-term growth
Nio stock sees a 900% rally this year with more upside ahead. As electric vehicles take over the auto industry, Nio stock is a great investment in today’s turbulent market.
Recovery of the broader Chinese economy and growing investor confidence has done wonders for Nio (NYSE:NIO) this year. Commonly referred to as the “Tesla (NASDAQ:TSLA) of China,” the electric vehicle (EV) company now has a net worth of more than $50 billion. This puts Nio stock in the same club as General Motors (NYSE:GM) in terms of valuation.
Given the exponential growth of the EV market this year, many investors believe that this is where the future of the auto industry is headed. Nio is proof of this with its stock up 93% this year and 936% to-date. But this is just the start of the company’s growth. Nio’s big plans and ample amounts of cash will help cement its position as leader of the up-and-coming Chinese EV market.
Jermaine Filmore 