Data presented by Buy Shares indicates the global interest in the keyword ‘Buy Nio Stock’ on Google search has surged by 284%. The interest was between December 20, 2021, and January 21 this year.
Nio innovations potentially driving interest in stock
The search attained a peak popularity score of 100 during the week ending January 10. By the week ending January 3rd, the popularity score was at 71, having grown from 38 the previous week.
The Buy Shares research explains some of the possible drivers for the Nio stock. According to the research report:
“The interest in the NIO stocks might also be in line with the company’s range of products that aim to revolutionize the electric vehicle industry. NIO is expecting to have an edge over competitors by innovating in two key areas under the battery technology and self-driving software. This is the narrative likely to drive the company’s stock. The Chinese firm is betting big on modular batteries for its EVs that can be swapped out in minutes. Furthermore, NIO recently announced its new ET7 model. The vehicle is poised to compete on the same level with established manufacturers like BMW or Audi than with Tesla. “
Based on regional interest Canada leads in interest with a peak score of 100 over the last 12 months, followed by Singapore at 90. The United States ranks third with a popularity score of 74.
Ireland ranks fourth with a score of 58 followed by UAE at 30 while the United Kingdom ranks sixth at 30, a similar score to Switzerland.
Hong Kong is seventh with a score of 29 followed by the Netherlands at 28 while Belgium ranks tenth with a score of 25.
In summary, Nio is turning out to be a great growth stock due to the swift shift in consumer and investor perception about electric cars in 2020. However, this does not guarantee growth for the company’s stock considering it operates in a market that is getting crowded as the conventional auto giants make their entry.