The Junkie and his team don’t get much sleep. That’s how we spot opportunities like this one…
Headquartered in Shanghai, NIO Inc. (NYSE: NIO) is China’s largest electric automobile manufacturer. That’s why it trades as an American depositary receipt (ADR) on the New York Stock Exchange.
[finviz ticker=NIO]NIO operates in China’s premium electric vehicle market and was founded in 2014 by William Li, the Chairman of Bitauto and NextEV.
The company designs, manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence.
NIO sells vehicles through its own sales network, including NIO Houses, NIO Spaces, and their mobile application.
Its SUV model include the ES8, ES6, and EC6, which range in price from $50,000 to $100,000 (similar to Tesla’s offerings).
The majority of NIO’s revenue is earned from selling SUVs, but the company also sells its EP9 supercar $1.5 million apiece.
NIO builds electric supercars to compete in the FIA Formula E Championship – the first single-seat, all-electric racing series.
NIO’s early investors include Chinese giants like Tencent, Baidu, Lenovo, and even the American venture capital firm Sequoia.
So far in 2020, NIO has risen significantly along with TSLA.
As of the end of the trading day on Wednesday, 7/8, NIO is up 248% year-to-date.
It’s up 94% from my bullish call on Sunday – from $7.75 to $15 per share.
So, it’s on pace to quickly reach my elevated $20-$25 price target.
That would represent an additional gain of 53% to 92% from here.
