Is NIO stock a better pick right now?

Nio Inc. (NYSE: NIO), a Chinese electric car maker, reassured investors concerned about supply issues caused by covid limitations. NIO rose 20% in a week to $17.57 on June 1st as a result of the encouraging news.

Remember that the emergence of COVID-19 in the region led Nio to halt operations at its Shanghai factory. It happened at an inopportune time since NIO’s new ET7 flagship car began delivery towards the end of March. This automobile is generating a lot of buzzes, and it’s crucial for the brand’s future growth.

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NIO announced on Wednesday, June 1, 2022, that shipments are fast rebounding. In May, the business supplied 38% more equipment than in April, and 5% more than in the same month the previous year. In June, the business intends to raise production and delivery even further.

The increase in ET7 sedan deliveries is a favorable indicator. Since March 28, a total of 2,563 ET7 cars have been delivered.

In a single month, NIO sold 2,936 huge ES6 SUVs, 1635 sporty EC6s, 746 large ES8 family SUVs, and 1,707 ET7 cars.

NIO announced on Wednesday, June 1, 2022, that shipments are fast rebounding. In May, the business supplied 38% more equipment than in April, and 5% more than in the same month the previous year. In June, the business intends to raise production and delivery even further.

The increase in ET7 sedan deliveries is a favorable indicator. Since March 28, a total of 2,563 ET7 cars have been delivered.

In a single month, NIO sold 2,936 huge ES6 SUVs, 1635 sporty EC6s, 746 large ES8 family SUVs, and 1,707 ET7 cars.

This is a one-of-a-kind market, with electric vehicles outselling gasoline and diesel automobiles. NIO’s performance in Norway might send a powerful signal to long-term investors.

The stock’s price index is up 7.53 percent in a month and down -5.18% in three months. In the last six months, it has returned a whopping -50.80%.