<div id="readability-page-1">The Fed wants to fuel the economy this year with at least three interest rate cuts after rising the benchmark rate 11 times between March 2022 and July 2023 to temper inflation post-pandemic, which means it’s the perfect time to check out the best stocks to buy in May. Morgan Stanley says the U.S. equities market rally at the end of 2023 left markets overvalued ahead of the Fed rate cut. So, when hunting for the best stocks to buy in May, we will explore three stocks with a “buy” rating and projected upsides of 58%, 75% and 79%, respectively. Let’s dig in further! <h2>Nio (NIO)</h2> <div id="2445138"><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="300" height="169" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/>Source: Piotr Swat / Shutterstock.com</div>Nio (NYSE:NIO) is down 38% in 2024 after investors panicked following its recent earnings release amid a worldwide EV industry downturn. However, at Auto China 2024, Nio unveiled its 2024 models, including the ET7 Executive Edition and Nio Full Stack, which includes Power Swap Station 4.0 and a 640kW ultra-fast charger; all of these will help Nio regain investor confidence. Nio will also launch Onvo, a mass-market brand, by May 2024. The startup intends to challenge Tesla’s (NASDAQ:TSLA) Model Y. The first electric vehicle under this new brand, the Onvo L60, is cheaper. European versions of this automobile should cost less than $30,000 next year. Nio is improving its battery swap network with Changan Automobile and Geely Holding, two large Chinese enterprises. In April 2024, Nio’s battery swap stations completed 65,779 tasks daily. Nio will also work strategically on charging and switching technologies to expand infrastructure and services with Lotus . Nio delivered 11,866 cars in March, an increase of around 14% year over year, helping the Chinese EV startup top its 30,000 Q1 delivery target. More recently, it reported two major milestones setting it up for a great 2024: outperforming Li Auto with 15,620 April vehicle deliveries, and producing its 500,000th vehicle. <h2>Warner Bros (WBD)</h2> <div id="2212948"><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="300" height="169" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/>Source: Ingus Kruklitis / Shutterstock.com</div>Warner Bros (NASDAQ:WBD) is one of the best turnaround stories; after losing a lot of money in 2022, the company’s direct-to-consumer section, which includes Max, Discovery+ and HBO, turned a profit in 2023. David Zaslav, the CEO, emphasized that building Max remains a top priority​, which means building on its already substantial user base of 99.6 million and expanding beyond America. In connection, Warner Bros. Discovery’s streaming service, Max, is spreading its wings towards Europe. In the first 25 European countries where Max is offered, this service will be the only way to watch every live moment of the 2024 Olympics in Paris. Additionally, Warner Bros. Discovery will make it harder to share passwords to prevent people from sharing accounts with others; the crackdown begins in the second half of 2024, with a fuller rollout in 2025. Meanwhile, CNN will launch a new Original Series and continue its non-scripted TV approach. New CEO Mark Thompson is making strategic changes to help it reclaim a premium position. Finally, look out for earnings on Thursday amid a heated media rights fight for NBA coverage with Comcast’s (NASDAQ:CMCSA) NBCUniversal, which is thinking about making a $2.5 billion bid, which is a lot more than WBD is currently spending. <h2>Li Auto (LI)</h2> <div id="2596264"><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="300" height="169" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/>Source: Andy Feng / Shutterstock.com</div>The Beijing-based business Li Auto (NASDAQ:LI) made history last year, reporting a net income of 11.8 billion Chinese yuan ($1.7 billion), becoming the first of China’s three electric vehicle startups to make a profit, doubly impressive considering it operates in the the high-end MPV market. However, more recently, Li Auto reported that 2,5787 more cars were delivered in April 2024 than in April 2023, a 0.4% increase year over year, but down 11% from March, leading to a dip of 21% in the stock this year. What’s more, Li Auto has lowered its sales forecast for the first quarter of 2024, citing lower-than-expected demand and a change in strategy for the newly launched Li MEGA. The Chinese EV company, on the other hand, has a large production budget and plans to deliver 800,000 units in 2024. Besides that, Li Auto is cutting prices on four of its five models by around 5% and continues to see healthy demand for the Mega EV, its all-electric MPV that got more than 10,000 pre-orders in the first two hours of its announcement. The 710-km automobile can be charged from 10% to 80% in 10 minutes and is popular for personal and family usage due to its affordable price. On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.Consumer Discretionary, Automotive, Communications, Electric Vehicles, Media, Social MediaGrowth Stocks </div>

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The best stocks to buy in May 2024 include Nio, Warner Bros, and Li Auto. Nio is expected to regain investor confidence with new models and a mass-market brand. Warner Bros is focusing on its direct-to-consumer section and expanding its streaming service. Li Auto, despite a dip in stock and lower sales forecast, plans to deliver a large number of units in 2024. These stocks offer potential upsides for savvy investors.

The 3 Best Stocks to Buy in May 2024