- NYSE:NIO fell by 1.22% on Friday to close out a difficult week for the stock.
- Nio had rebounded from the sell-off earlier this week, but fell into the close.
- The company debuted its ET7 sedan in Europe and announced the German launch.
NYSE:NIO investors are growing accustomed to the volatility, as the stock closes out another week of losses. Nio fell by 5.36% this week, and is down nearly 14.0% during the past month. On Friday, shares of Nio dipped by 1.22% to close the week at $37.98. It was a bearish session all around for electric vehicle stocks, as Tesla (NASDAQ:TSLA) dropped by 2.46%, XPeng (NYSE:XPEV) fell by 2.11%, and Li Auto (NASDAQ:LI) lost 1.40% during the day.
Stay up to speed with hot stocks' news!
On Wednesday, Nio sent investors reeling when it announced late in the day that it would raise $2 billion of capital. The stock dropped by over 5.0% the following day, as the market overreacted to a fairly common business tactic, particularly for growth companies in volatile sectors. Nio also has a healthy balance sheet, so the decision obviously sparked some confusion amongst investors. Nio investors had mostly accepted the decision by the next session, and the stock had recovered most of the losses by Friday, until a late dip by the broader markets sent Nio tumbling into the red.
NIO stock forecast
Nio continued its European expansion on Friday as it showcased its ET7 sedan. The vehicle was only recently unveiled in China earlier this year, but is now set to launch in Germany, a market Nio is planning to enter by 2022. There are still no announcements regarding charging stations or battery swap stations like the company does in China and Norway.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD declines below 1.2500 as USD rebounds
GBP/USD declined below 1.2500 and erased the majority of its daily gains with the immediate reaction to the US GDP report. The US economy expanded at a softer pace than expected in Q1 but the price deflator jumped to 3.4% from 1.8%.
Gold drops below $2,320 as US yields shoot higher
Gold lost its traction and turned negative on the day below $2,320 in the American session on Thursday. The benchmark 10-year US Treasury bond yield is up more than 1% on the day above 4.7% after US GDP report, weighing on XAU/USD.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.