Why Nio Stock Tumbled 10% Today
Shares of Chinese electric car company Nio (NYSE: NIO) gave back 10.4% of its market capitalization Tuesday morning (through 10:50 a.m. ET).
It has only itself to blame.
This morning, you see, Nio announced that it is planning to offer $500 million worth of convertible senior notes due 2029 and a further $500 million worth of convertible senior notes due 2030.
Source Fool.com
NIO Inc. Stock
€4.09
-1.250%
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the NIO Inc. stock is not clear.
As a result the target price of 5 € shows a positive potential of 22.16% compared to the current price of 4.09 € for NIO Inc..
