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
€6.59
1.820%
The community is currently still undecided about NIO Inc. with 0 Buy predictions and 2 Sell predictions.
A target price of 3 € results in a potential of -54.48% which would mean heavy losses compared to the current price of 6.59 € for NIO Inc..
