Technical Analysis. The market is bullish, just wait a little bit before buying to be sure there will not be any price retracement.
Fundamental Analysis:
NIO is a Chinese automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric autonomous vehicles. The company is also involved in the FIA Formula E Championship, the first single-seater, all-electric racing series
"We do compete against each other, but in general we are allies," NIO' s CEO said, as reported by Bloomberg, pointing out that the two companies are working to grab the market from gasoline-based automakers rather than each other.
"In fact, our sales kept growing since Tesla started production in Shanghai," he added.
Li's comments come days after Nio reported mixed earnings for the first quarter this year, as the COVID-19 pandemic took toll.
It posted a loss per ADS of 22 cents, narrower than the analyst consensus of 26 cents, and highlighted enhanced cost control measures taken in the quarter.
Fundamental Analysis:
NIO is a Chinese automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric autonomous vehicles. The company is also involved in the FIA Formula E Championship, the first single-seater, all-electric racing series
"We do compete against each other, but in general we are allies," NIO' s CEO said, as reported by Bloomberg, pointing out that the two companies are working to grab the market from gasoline-based automakers rather than each other.
"In fact, our sales kept growing since Tesla started production in Shanghai," he added.
Li's comments come days after Nio reported mixed earnings for the first quarter this year, as the COVID-19 pandemic took toll.
It posted a loss per ADS of 22 cents, narrower than the analyst consensus of 26 cents, and highlighted enhanced cost control measures taken in the quarter.