From mid-May 2020 to mid-October, shares of Chinese electric vehicle-maker NIO Limited (NIO) have run up more than seven times in price — 733% to be precise. Recognizing his error in not recommending the stock earlier, JPMorgan’s Head of Asia Auto Research Nick Lai issued a mea culpa this week: “Admittedly, we missed the stock’s major rally YTD.”But better late than never.Even if Lai missed the last 733 percentage points worth of gains, he thinks there’s still time for investors to catch the next 44% profit, and for this reason, Lai has upgraded NIO shares to “overweight” with a $40 …read more
Source:: Yahoo Finance
