Nio stock pulls back after Citigroup downgrades on Tesla competition concerns [MarketWatch]
NIO Inc. American depositary shares, each representing one Class A ordinary share (NIO)
Last nio inc. american depositary shares, each representing one class a ordinary share earnings: 3/18 07:30 am
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Source: MarketWatch
Shares of Nio Inc. slipped 1.0% in premarket trading Tuesday, pulling back slightly after back-to-back record closes, after Citigroup analyst Jeff Chung backed away from his bullish stance on the China-based electric vehicle maker, citing concerns over competition from Tesla Inc. . Also pressuring the stock, Nio said late Monday it was offering $1.3 billion in convertible debt, which can be converted after Aug. 1, 2025 to shares or cash. Nio's stock closed at records the past two sessions, as investors cheered the unveiling over the weekend of the company's ET7 luxury sedan. "ET7 is good but not enough to make any critical changes from Tesla's challenge," Chung wrote in a note to clients. He estimates that ET7 will only register "limited incremental sales" of 3,000 to 4,000 units per month from the first quarter of 2022, and is likely to be challenged potentially by a Tesla Model-S "facelift" in the future. Tesla's stock rose 2.9% ahead of Tuesday's open, after the stock dropped 7.8%
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NIO
News
- Here's Why NIO Inc. (NIO) Gained But Lagged the Market Today [Yahoo! Finance]Yahoo! Finance
- VW, BMW Out to Prove They're Not a Spent Force at China Car Show [BNN Bloomberg (Canada)]BNN Bloomberg
- NIO: In Search Of A Bottom [Seeking Alpha]Seeking Alpha
- Xiaomi's Success Means More Trouble for Battered China EV Stocks [BNN Bloomberg (Canada)]BNN Bloomberg
- Nio Inc - (NYSE: NIO) had its "neutral" rating re-affirmed by analysts at Macquarie. They now have a $5.00 price target on the stock.MarketBeat
NIO
Earnings
- 3/5/24 - Beat
NIO
Sec Filings
- 4/9/24 - Form 6-K
- 4/9/24 - Form 20-F
- 4/4/24 - Form SC
- NIO's page on the SEC website