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
€4.30
-1.450%
Currently there is a rather negative sentiment for NIO Inc. with 0 Buy predictions and 3 Sell predictions..
This results in a negative potential of -30.26% based on a current price of 4.3 € and a target price of 3 € for the stock.
