The Ultimate EV Stock to Buy With $500 Right Now

Many electric vehicle stocks hit their all-time highs during the apex of the meme stock rally in 2021. At the time, low interest rates, stimulus checks, social media buzz, and a contagious fear of missing out (FOMO) drove many investors to scoop up the market's hottest EV stocks while glossing over their staggering losses and soaring valuations.One of those stocks was the Chinese EV maker Nio (NYSE: NIO), which saw its stock soar tenfold from its IPO price of $6.26 in 2018 to a record high of $62.84 on Feb. 9, 2021. But today, Nio's stock trades at less than $5. It ran out of juice as its growth slowed down, it racked up more losses, and rising interest rates popped its bubbly valuations.Image source: Nio.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool