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
€4.30
-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.
