Is NIO Stock A Buy Or Sell After Goldman Sachs Upgrade?

Oct. 18, 2021 11:23 AM ETNIO Inc. (NIO)13 Comments

Summary

  • NIO has moved down by almost 40% since its peak of more than $66 earlier this year.
  • The stock has not been spared from wavering investors sentiment stemming from extended supply chain disruptions and regulatory woes in China.
  • Yet, better-than-expected Q3 delivery volumes and Goldman Sachs' upgraded "buy" rating on the stock have triggered a slow but steady extended uptrend in recent weeks.
  • Fresh catalysts including the upcoming release of Q3 results, potential unveiling of new vehicles at NIO Day 2021, and delivery commencement on the ET7 sedans could boost investors' confidence and spur a sharper uptick in the stock's performance.
  • This underpins renewed upsides for the stock, making its current price level a reasonable entry point for investors.
Nio brand logo and electric car in store

Robert Way/iStock Editorial via Getty Images

It has undoubtedly been a rocky year for NIO's (NYSE: NYSE:NIO) stock. Wavering investor sentiment stemming from the ongoing chip supply shortage and regulatory headwinds in China have put serious pressure on the stock. NIO has moved down 40% since

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Disclosure: I/we have a beneficial long position in the shares of NIO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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