Why Nio Stock Plunged Today
(NYSE: NIO) stock is crashing today. American depositary shares (ADS) of the Chinese electric vehicle (EV) maker plunged nearly 11% after the company announced a fresh capital raise. Shares recovered some of that drop, but were still down by 9.5% as of 11:43 a.m. ET.
Nio is seeking to take advantage of a recent surge in its stock to raise $1 billion in an equity offering.
Image source: Nio.
Source Fool.com
NIO Inc. Stock
€4.40
6.050%
The community is currently still undecided about NIO Inc. with 0 Buy predictions and 2 Sell predictions.
A potential of -31.8%, resulting from comparing the current price of 4.4 € with the target price of 3 € for NIO Inc., shows the chance of incurring significant losses.
