Is Nio Stock A Buy Before Its January 9th Event?

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After delivering a record number of vehicles over the past year, NIO is now planning to launch new EVs to enter the autonomous driving segment of the industry. Analysts and investors are optimistic about the stock’s future performance given the company’s proven technical knowhow and budget-friendly vehicles. As NIO begins to expand its horizons by entering international markets amid a global clean energy drive, it may be smart to go long on the stock now.

For its part in the electric vehicle revolution, Chinese EV manufacturer NIO Limited (NIO - Get Rating) is leaving no stone unturned to expand its market share internationally. At a time when the Chinese government is cracking down on the country’s largest conglomerates, which are facing allegations of being monopolistic, NIO’s budding status, and the global economy’s supportive approach towards clean energy, have been driving the company’s growth.

NIO’s technological dexterity has made it one of the leading companies in the sector, despite being a relatively newer player. At its annual event on January 9, it is expected to launch a self-driving electric sedan, along with a 150kwh-hour battery pack that will improve driving distances between charges. Since the announcement of NIO Day on January 3, the stock has gained 3.6%, reflecting investor optimism about the launch of new products.

Wall Street analysts expect NIO’s stock to gain 405.5% to hit $268.94. This is not surprising, considering the company’s impressive performance last year. Record vehicle deliveries and technological innovations have driven the stock to a gain of 1272.3% over the past year. This, combined with other factors, has helped NIO earn a “Buy” rating in our proprietary rating system.

"SAFE HAVEN" Dividend Stocks for Turbulent Times

Here is how our proprietary POWR Ratings system evaluates NIO:

Trade Grade: A

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