Why Nio Stock Jumped 65% in September and Is Still a Solid Buy

Every stock tells a story, but Nio's (NYSE: NIO) is the kind you'd want to grab the popcorn for. The Chinese electric vehicle (EV) stock was having a dismal 2024 until last month when it staged one of the most dramatic comebacks -- after plunging 55.5% in the year through August, Nio stock gained a whopping 65.3% in September alone, according to data provided by S&P Global Market Intelligence.I was confident about Nio stock's recovery in the second half of 2024 and believed it was a top stock to buy; but honestly, I didn't expect such a rebound so fast and so soon. What's brewing?Dwindling deliveries and margins for several quarters sent Nio shares tumbling, and there were few takers for management's confidence in a recovery for the second half of 2024. There were telltale signs, though, that Nio should be able to deliver better numbers as the year progressed. Specifically, the company completed upgrading all its models to an advanced platform by April and had lined up new launches, expecting these to boost its deliveries.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool