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
€5.64
2.360%
With 1 Sell predictions and 0 Buy predictions the community sentiment towards the NIO Inc. stock is not clear.
This results in a negative potential of -46.81% based on a current price of 5.64 € and a target price of 3 € for the stock.
