Wall Street sets Nio stock price for the next 12 months

In an environment that has not necessarily been favorable to EV companies, Chinese carmaker Nio (NYSE: NIO) has experienced quite a volatile year. At the beginning of 2024, NIO stock was trading at approximately $8.50. By April, it had dropped to as low as $3.80 on account of disappointing vehicle delivery figures. It climbed back to $5.79 in the middle of May, but could not sustain those prices — and subsequently dropped even lower, to $3.70. That sad state of affairs continued until September. The busines ...