Impressive Q1 For NIO Inc.: I Can't Give It Anything But Buy

NIO Inc. is undergoing a significant turnaround, prompting an upgrade to Buy despite ongoing geopolitical risks. Q1 revenue grew 98.8% YoY to $3.7B, beating management's guidance and prior market expectations, with gross margin rising to 19%. Operational improvements, cost-cutting, and successful ES8 sales drove adjusted profit to $66M versus a $6B loss last year.