NIO To Double Its Value In First Days Of U.S. Trading

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Bad timing affected NIO from raising more money.

Chinese electric vehicle manufacturer NIO was able to raise $1 billion through its IPO on the NYSE, but it was clearly seen that there is higher potential.

“In an interview Wednesday, NIO Chief Financial Officer Louis Hsieh attributed the low initial price to bad timing, saying losses in Asian markets had made domestic investors “too jittery.””

Right after the trading began, stock value went up from $6.26 and now within 48 hours is around twice higher at a level of over $12 per share!

In the future, NIO would like to sell cars also in Europe and the U.S., but it will probably be second-generation models on new platform.

Source: Bloomberg

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