NIO Stock Price and News: Nio trades higher as investors shrug off stock offering
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UNLOCK OFFER- NYSE:NIO gained 0.81% on Thursday alongside the broader Chinese EV market.
- Nio is looking to delay its Hong Kong Stock Exchange listing until 2022.
- Nio also received a nice price upgrade from Morgan Stanley.
NYSE:NIO powered higher out of the gate on Thursday morning as investors bought the dip and shrugged off the nervousness surrounding the $2 billion stock offering from the previous day. On Thursday, shares of Nio gained 0.81% and closed the trading session at $38.45. It was a welcome move for Nio as it is a stock that has been under some pressure as of late. Not only is Nio affected by the ongoing struggle of Chinese tech ADRs, but the company also recently lowered its delivery guidance for the rest of 2021. The number one reason for less electric vehicle deliveries? The ongoing global chip shortage which has certainly had an effect on automakers around the world.
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Nio did announce that it is potentially looking to delay its listing on the Hong Kong Stock Exchange until 2022. The company stated earlier this year that it was looking to list, but investigations and queries from the HKSE have led to a number of hurdles for Nio to jump over. While Nio hasn’t ruled it out completely, the delay is a negative sign for Asian investors. Nio’s two biggest domestic rivals XPeng (NYSE:XPEV) and Li Auto (NASDAQ:LI) both also list on the HKSE as well.
NIO stock forecast
Like American EV Maker Lucid (NASDAQ:LCID), Nio also received a nice analyst upgrade on Thursday. Morgan Stanley reiterated its ‘overweight’ rating on the stock moving forward, and provided a very bullish price target of $64.00. The analyst is not too bothered by the lowering of vehicle delivery estimates for Q3, and states that the 2022 Nio Day and lower sequential comparisons to beat are bullish catalysts for the rest of 2021.
- NYSE:NIO gained 0.81% on Thursday alongside the broader Chinese EV market.
- Nio is looking to delay its Hong Kong Stock Exchange listing until 2022.
- Nio also received a nice price upgrade from Morgan Stanley.
NYSE:NIO powered higher out of the gate on Thursday morning as investors bought the dip and shrugged off the nervousness surrounding the $2 billion stock offering from the previous day. On Thursday, shares of Nio gained 0.81% and closed the trading session at $38.45. It was a welcome move for Nio as it is a stock that has been under some pressure as of late. Not only is Nio affected by the ongoing struggle of Chinese tech ADRs, but the company also recently lowered its delivery guidance for the rest of 2021. The number one reason for less electric vehicle deliveries? The ongoing global chip shortage which has certainly had an effect on automakers around the world.
Stay up to speed with hot stocks' news!
Nio did announce that it is potentially looking to delay its listing on the Hong Kong Stock Exchange until 2022. The company stated earlier this year that it was looking to list, but investigations and queries from the HKSE have led to a number of hurdles for Nio to jump over. While Nio hasn’t ruled it out completely, the delay is a negative sign for Asian investors. Nio’s two biggest domestic rivals XPeng (NYSE:XPEV) and Li Auto (NASDAQ:LI) both also list on the HKSE as well.
NIO stock forecast
Like American EV Maker Lucid (NASDAQ:LCID), Nio also received a nice analyst upgrade on Thursday. Morgan Stanley reiterated its ‘overweight’ rating on the stock moving forward, and provided a very bullish price target of $64.00. The analyst is not too bothered by the lowering of vehicle delivery estimates for Q3, and states that the 2022 Nio Day and lower sequential comparisons to beat are bullish catalysts for the rest of 2021.
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