NIO Stock Forecast: Nio Inc surges higher as it signs a key partnership in Europe

NYSE:NIO gained 2.35% during Tuesday’s trading session.
Nio announces a major partnership with LeasePlan for its ES8 vehicles.
Goldman Sachs reports Nio could be nearing a listing in Hong Kong.

Stocks Reporter FXStreet

NYSE:NIO continued its strong start to the week on Tuesday alongside a broader market rally that further shows investors are looking past the Omicron variant of the novel coronavirus. Shares of Nio gained 2.35% and closed the trading session at $33.10 despite hitting an intraday high price of $34.52. Stocks soared on Tuesday as the NASDAQ had its best single session since March after climbing higher by 3.03%. Mega-cap tech stocks rebounded nicely and Tesla (NASDAQ:TSLA) jumped by 4.24% after investment firm UBS upgraded the stock and stated that ‘no rival is to come even close to Tesla in 2022’.

Stay up to speed with hot stocks' news!

Just days ahead of its annual Nio Day Event on December 18th, the company announced a major partnership with the European firm LeasePlan, which is a Dutch firm that specializes in vehicle leasing and fleet management. LeasePlan already has about 1.8 million vehicles available to customers across 29 different countries, and its addition of Nio’s ES8 model helps the company with its goal of having net-zero emissions from its fleet by 2030. Nio launched in Norway earlier this year, and recently built its first battery swap stations outside of its home market of China.

NIO stock price

On Tuesday, investment banking company Goldman Sachs also reported that Nio could be close to listing on the Hong Kong Stock Exchange. The company is currently trading on the New York Stock Exchange as an ADR, and a dual listing could have long-term benefits for the firm. Nio would join other Chinese companies like Li Auto (NASDAQ:LI), XPeng (NYSE:XPEV), and AliBaba (NYSE:BABA) to trade on more than one exchange.

Like this article? Help us with some feedback by answering this survey:

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

EUR/USD rebounds from session lows, stays below 1.1650

EUR/USD is recovers modestly from session lows but remains in the red below 1.1650 in European trading on Thursday. The pair faces headwinds from a renewed uptick in the US Dollar amid a negative shift in risk sentiment. Surging energy prices due to the Middle East war keep the bearish pressure intact on the Euro. The US Jobless Claims data are next of note.

GBP/USD stays weak near 1.3350 amid UK stagflation risks

GBP/USD sticks to losses near 1.3350 in the European session on Thursday. The Pound Sterling loses ground amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, while the US Dollar attracts fresh havem demand ahead of the US Jobless Claims data.

Gold climbs near $5,200 as Iran war fuels safe-haven demand

Gold price extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East. US and Israeli strikes across Iranian territory and widespread Iranian missile and drone retaliation across the Middle East, including attacks on regional targets and military sites, prolong the crisis and its impact.

Three reasons to be bearish on Bitcoin

Bitcoin is holding up well taking into account the uncertainty stemming from the Middle East. Despite this week’s rally, the long-term outlook remains bearish. Here are three reasons why I think the storm for the largest cryptocurrency isn't over yet.

FX alert: When Energy still writes the macro script the Dollar holds the pen

The market is quietly sliding back into the trade nobody wanted to own, but everyone now has to respect again. The no quick off-ramp trade. Yesterday’s bounce in risk assets already looks less like a turning point and more like a classic relief rally in a market that briefly inhaled before realizing the room was still on fire.

Cardano Price Analysis: Approaches key trendline amid bearish sentiment

Cardano (ADA) price is approaching its descending trendline around $0.28 at the time of writing, set to shape the next directional move. The derivatives metrics paint a bearish picture, with ADA’s Open Interest continuing to fall and short bets rising among traders.