NIO Stock Forecast: Nio Inc tumbles 6% in a bearish start to the Christmas week
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UNLOCK OFFER- NYSE: NIO tumbled over 6% in Monday's trading session.
- Nio investors are preparing for the annual Nio Day Event on Saturday.
- Nio is hoping a new vehicle will help ease the negativity surrounding the stock.
Update, December 21: After Friday’s brief pullback, sellers returned on Monday, knocking down the shares of NYSE: NIO by 6.13% to refresh yearly lows at $27.79. The downward spiral in NIO extended from the previous week, as the selling pressure remained unabated amid the growing competition within the Electric Vehicle (EV) space, US-China tensions and Fed’s rate hike concerns. The latest leg lower could be attributed to the broader market sell-off, triggered by the escalating fears over the Omicron covid variant globally. The focus remains on the annual Nio Day Event this Saturday.
NYSE: NIO had yet another week to forget as the stock continues to trend lower heading into the last couple weeks of 2021. Shares of Nio fell by 0.23% on Friday and closed the trading week at $30.00 even. Nio has lost a further 11% from its stock price over the past five days, which has coincided with the recent sell off in popular growth names. Volatility was the name of the game once again on Friday, as the Dow Jones tumbled by 532 basis points, while the S&P 500 and NASDAQ fell by 1.03% and 0.07% respectively.
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All eyes are on Nio this weekend as the company hosts its fifth annual Nio Day Event in Suzhou City, China. The theme of the event is ‘Hello World’ and fittingly, the company has hired Norwegian DJ Alan Walker to create a new theme song specifically for the event. Investors are hoping to see some more plans for international growth expansion, given the theme of the event. Unfortunately for Nio, the rising cases of COVID-19 and the looming shadow of Chinese stocks being delisted has tarnished the enthusiasm over the event.
NIO stock price
Earlier this week, Nio teased the release of a new vehicle at Nio Day, which is widely believed to be the ET5 sedan. The ET5 is anticipated by many to be a major rival for Tesla’s (NASDAQ: TSLA) Model 3. There is also an outside possibility of the unveiling of Nio’s new EF9 sports coupe as well. Can these new vehicle releases stop the bleeding for Nio’s stock? Or will the macroeconomic factors continue to weigh it down alongside other ADRs? Investors will see how Nio’s stock reacts come Monday morning.
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- NYSE: NIO tumbled over 6% in Monday's trading session.
- Nio investors are preparing for the annual Nio Day Event on Saturday.
- Nio is hoping a new vehicle will help ease the negativity surrounding the stock.
Update, December 21: After Friday’s brief pullback, sellers returned on Monday, knocking down the shares of NYSE: NIO by 6.13% to refresh yearly lows at $27.79. The downward spiral in NIO extended from the previous week, as the selling pressure remained unabated amid the growing competition within the Electric Vehicle (EV) space, US-China tensions and Fed’s rate hike concerns. The latest leg lower could be attributed to the broader market sell-off, triggered by the escalating fears over the Omicron covid variant globally. The focus remains on the annual Nio Day Event this Saturday.
NYSE: NIO had yet another week to forget as the stock continues to trend lower heading into the last couple weeks of 2021. Shares of Nio fell by 0.23% on Friday and closed the trading week at $30.00 even. Nio has lost a further 11% from its stock price over the past five days, which has coincided with the recent sell off in popular growth names. Volatility was the name of the game once again on Friday, as the Dow Jones tumbled by 532 basis points, while the S&P 500 and NASDAQ fell by 1.03% and 0.07% respectively.
Stay up to speed with hot stocks' news!
All eyes are on Nio this weekend as the company hosts its fifth annual Nio Day Event in Suzhou City, China. The theme of the event is ‘Hello World’ and fittingly, the company has hired Norwegian DJ Alan Walker to create a new theme song specifically for the event. Investors are hoping to see some more plans for international growth expansion, given the theme of the event. Unfortunately for Nio, the rising cases of COVID-19 and the looming shadow of Chinese stocks being delisted has tarnished the enthusiasm over the event.
NIO stock price
Earlier this week, Nio teased the release of a new vehicle at Nio Day, which is widely believed to be the ET5 sedan. The ET5 is anticipated by many to be a major rival for Tesla’s (NASDAQ: TSLA) Model 3. There is also an outside possibility of the unveiling of Nio’s new EF9 sports coupe as well. Can these new vehicle releases stop the bleeding for Nio’s stock? Or will the macroeconomic factors continue to weigh it down alongside other ADRs? Investors will see how Nio’s stock reacts come Monday morning.
Like this article? Help us with some feedback by answering this survey:
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