NIO

NIO

Market cap $12.2B

NIO Inc. (NIO) reached $4.88 at the closing of the latest trading day, reflecting a -2.2% change compared to its last close.

The Strait of Hormuz has been closed since the end of February. But Rivian, Nio, and other EV stocks were resistant to higher oil prices.

BYD, NIO and Yamaha have been highlighted in this Industry Outlook article.

While the Zacks Foreign Auto industry's prospects are subdued, here's why stocks like BYDDY, NIO and YMHAY are still worth buying.

NIO (NIO) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

The consensus story on Nio (NYSE:NIO | NIO Price Prediction) has been predictable for years: a cash-burning Chinese electric vehicle startup that was one funding round away from trouble.

Nio stock has pulled back sharply in the past two months, moving from a high of $6.98 in May to a low of $4.66. It has stabilized recently, rising to $5.13 in the premarket session today.

Humanoid startup LimX raised $200 million in a pre-IPO round that values the company at $2.21 billion. Founder Will Zhang said the technology has reached a point where going public is necessary.

Nio reported second-quarter vehicle sales rose about 50% year over year. Nio reported a narrow first-quarter loss of under $50 million.

Goldman upgraded NIO stock to Buy from Hold. The broker's new price target is $7 a share, up 45% from recent levels.