Nio (NIO)

Nov 4, 2021Trade Ideas

Twitter (TWTR) is still pushing higher.

After finding it at $54.30, the social media stock is now up to $54.75. We’d still like to see it challenge $62 a share, near-term.

Investors may also want to keep an eye on electric vehicle stock Nio (NIO).

While it saw a 27.5% dip in October vehicle sales year over year, Deutsche Bank analyst Edison Yu just added NIO to its short-term buy idea list. He believes the stock will catch up to its rivals as we head into the final weeks of the year. He also believes the company will provide strong guidance for the fourth quarter, and that November monthly deliveries will confirm robust continued demand for its electric vehicles.

In addition, we have to remember that NIO Day is coming, mid-December 2021. Analysts expect to see newer models and technologies that could boost investor confidence.

Also, we have to consider that global leaders want millions of EVs on the roads over the next decade. All in an effort to reduce global emissions. That alone should be a substantial catalyst for shares of NIO, longer-term.

From a current price of $42.36 in pre-market, we’d like to see NIO closer to $50 this year.


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