Traders, Future of Wealth Head Trader Lance Ippolito has a question that’s probably going to make you roll your eyes and laugh, but hear him out…
What do the movie “The Matrix” and this video’s topic have in common?
They have the same main character… even if the spelling is a letter off.
Nio Inc. (NYSE: NIO) is a Chinese electric vehicle (EV) maker Lance’s covered a lot in the past year. It was even a pick for his Sweet Spot Stocks strategy back when it was in the teens — and they sold half of their position for a 50% gain!
Despite that, he’s had some polar opposite views on the company. But now he wants to settle a debate.
Is Nio the best Chinese EV stock, and is it back on track to $100 a share?
The EV space in general is a hot topic right now… As most of you know, he recently dropped $40,000 into Tesla Inc. (Nasdaq: TSLA) — and it’s been working out beautifully!
At the beginning of the year, Lance said Nio’s share price would hit $100 by the end of 2021.
But toward the end of May, after a big sell-off, he ranked Nio in his “second tier of crappy EVs.” He was high on Ford Motor Co. (NYSE: F) after the announcement of the F-150 Lightning, a full-sized EV pickup truck.
But he wants to focus on the best Chinese EV stocks and where that market is trending…
Starting with Nio, which has been on fire of late…
Who Will Prevail as the Best Chinese EV Stock?
In order to crown a winner in the Chinese EV market, we have to get an idea of where that market is going.
Lance looked at Nio’s chart to get an idea where the sector might be headed.
In January, when he said that Nio could climb to $100 per share by the end of the year, it was trading at $69 before experiencing a big pullback to around $40 — which he also predicted in the video linked above.
But the big indicator he’s looking at is implied volatility, which is low with earnings still a ways off on Aug. 9. Despite low volatility, Nio is up 25% month-to-date for June after Wednesday morning’s spike — which is pretty big.
So will Nio emerge as the best Chinese EV stock against its competitors?
We’ll have to wait for its earnings event in August — when volatility increases. Check out Lance’s short video and let’s talk about Nio as the best Chinese EV stock… and whether it’s back on track to $100 a share.
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