Chinese EV maker NIO is accelerating too fast. According to yesterday's article on The Wall Street Journal, "Just a year ago, Nio was struggling for survival."
NIO has been somewhat immune to the crisis but today, its shares are up by 3.02% to $46.42 at 09:44 EST. The New York Stock Exchange is sliding 1.01% to $13808.7, on what seems, so far, a somewhat negative trading session on the New York Stock Exchange.
According to yesterday's article on Bloomberg Quint, "Electric-suv maker NIO to add sedans as Tesla rivalry heats up."
This was the New York Stock Exchange two succeeded sessions of gains.
NIO's last close was $46.59, under its 52-week high of $54.2.
NIO's sales growth is 98.6% for the ongoing quarter and 262.3% for the next. The company's growth estimates for the ongoing quarter and the next are 61.5% and 47.8%, respectively.
NIO's stock is valued at $46.42 at 09:44 EST, way under its 52-week high of $54.2 and way above its 52-week low of $1.77.
NIO's worth is way higher than its 50 day moving average of $30.69 and way above its 200 day moving average of $16.26.
According to Bloomberg Quint on Tue Nov 17, "Nio Loss Narrows After Electric-Car Demand in China Picks Up."