Why Nio Stock Soared This Week
Stocks generally don't perform well when a company announces it is raising capital through an equity offering. But the stock of Chinese electric vehicle (EV) maker (NYSE: NIO) has surged this week on the heels of one such announcement.
Nio's American depositary shares (ADSes) have surged nearly 20% this week, as of Friday morning, according to data provided by S&P Global Market Intelligence.
The move came after a string of what investors are considering good news from Nio.
Source Fool.com
NIO Inc. Stock
€4.60
2.160%
With 2 Sell predictions and 0 Buy predictions the community sentiment towards the NIO Inc. stock is not clear.
This results in a negative potential of -34.8% based on a current price of 4.6 € and a target price of 3 € for the stock.
