|Bid||21.81 x 1300|
|Ask||21.84 x 1400|
|Day's Range||20.35 - 22.20|
|52 Week Range||11.67 - 50.55|
|Beta (5Y Monthly)||2.45|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 09, 2022 - Aug 15, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||36.15|
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Electric vehicles are taking over, faster than people might assume. “Electric vehicle demand continues to be the one bright spot, as more electric cars than ever take to the road,” said SMMT CEO Mike Hawes in a news release. “With motorists facing rising fuel costs …the switch to an electric car makes ever more sense and the industry is working hard to improve supply and prioritize deliveries of these new technologies given the savings they can afford drivers.”
Shares of Chinese electric-vehicle (EV) maker Nio (NYSE: NIO) dropped nearly 5% in early trading today. As of 1:45 p.m. ET, Nio shares had reversed course and gained 1.5%. Nio was forced to limit production in the second quarter due to pandemic-induced lockdowns in some Chinese cities.
In June, when the stock markets crashed and the S&P 500 lost 8.4% in value, Li Auto (NASDAQ: LI) stock gained a jaw-dropping 52.8%, according to data provided by S&P Global Market Intelligence. The rally in Li Auto shares stuns even more when you realize that the electric vehicle (EV) stock was down 13.3% in the year through May. What changed so dramatically for Li Auto last month, and is this rally even sustainable?