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
€6.21
-1.800%
With 2 Sell predictions and 0 Buy predictions the community sentiment towards the NIO Inc. stock is not clear.
The target price of 3 € compared with the current price of 6.21 € for the stock indicates a negative potential of -51.71%.
