Saad Ullah
Nio's Incredible Growth Contines
Nio, a Chinese electric vehicle company, continues its explosive and unstoppable gains that began a week ago. At the auction on Monday, the company's shares rose more than 6%. In total, since the beginning of the rapid growth a week ago, Nio shares have risen in price by almost 44%.
Despite this rapid growth, analysts are confident that it is still far from over. EliteOptionsTrader states that the company's stock target price is set to $50.
Good evening! $SPX tested the previous all-time high at 3588 but failed I would consider calls above 3588 Target: 3633 I would consider puts under 3553 Target: 3525,3500 $NIO another strong day.. It needs to continue to hold above 44 to move to 47.33,50.37 next Have a GN! @EliteOptions2 via Twitter
To reach this price, the shares need to continue to hold at the level of $ 44, investors have so far successfully managed to maintain this price. According to the analyst, shares are expected to rise to $47, and then - above $50.
The trader is not the only one who is confident in continued growth. Based on the extremely positive bullish dynamics of recent months, other analysts draw similar conclusions about the continued growth of Nio's share price.
The Main Driver of Nio's Growth
The main driver of the rapid growth in the value of shares was the information about the increased number of deliveries in October. Within a month, the company was able to deliver more than 5 thousand electric vehicles, which is an absolute record for the company. Besides, this indicator itself is 100% higher than the results of October last year.
CEO and founder of the company, William Li, in an interview with the Chinese media made it clear that he is preparing for the further growth of the company. He plans to increase the production capacity of Nio's plant in China. By 2021, it is planned to increase the capacity to 300 thousand electric vehicles per year, thereby doubling it relative to the current values.
Saad Ullah
