NEO reported 69% growth in its most recently completed quarter compared to the same quarter last year. What's more, these sales are coming with higher margins as its vehicle margin improved to 18.5%.
These are impressive results for NEO, one of China's most prolific electric vehicle companies. Still, the share price is down almost 90% when looking back five years. And you know, I've been warning investors that NEO stock had been too expensive back in those days.
And as early as this year, I've been warning investors that Neoto was too expensive. But recently, I upgraded NEO stock to a buy. That's the first electric vehicle company I've upgraded to a buying opportunity ever.
So, do I still think NEO stock is a buying opportunity after I made that upgrade a little over a month ago?