After a red-hot rally in NIO stock this year, many believe the fizz is all out of the can. But don't misplace your optimism in Nio stock, says Luke, who says the best part of the rally is yet to come.
Why? Because electric cars are the future and Nio is delivering strong growth in EVs today. And in China, the market for EVs is massive considering that China has the world's largest auto market. It's no surprise, in fact, that one out of every three EVs sold in 2019 was sold in China. And Nio is absolutely killing it in China, with its brand loyalty rivaling that of Tesla's.
Bottom line: Nio is a long-term winner that offers investors a high-visibility, big-potential way to play the EV megatrend. As Luke states, it's not wise to give up on Nio stock after its tear in 2020. Instead, Luke thinks investors should stick with the rally, and check back on Nio's stock price in a decade.
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this video.
