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
€4.60
2.160%
With 2 Sell predictions and 0 Buy predictions the community sentiment towards the NIO Inc. stock is not clear.
This results in a negative potential of -34.8% based on a current price of 4.6 € and a target price of 3 € for the stock.
