This stock has been crazy for scalping going on nearly a month with insane volume. I cant even tell you where its going to go to be honest...... was this run due to hype? Earnings potential? Future growth? or maybe hype because of the massive increase TSLA had in over the last 2 years? If I had to guess its a combination.... little bit of all.
Going to have to play this on based on your own feelings as it has substantial swings and it very volatile.
On the hourly chart it appears to be settling back down into its prior channel. I believe much of the down side was due to people taking profits and rightly so. If it respects the previous trend its certainly good for some quick scalps, or an entry for a long position.
https://wccftech.com/nio-shares-are-in-a-maelstrom-as-citron-slaps-a-sell-rating-while-the-worlds-largest-hedge-fund-increases-its-bullish-stake-in-the-company/
NIO has also received endorsements from the likes of JP Morgan (NYSE:JPM 114.08 0.63%) and Citi (NYSE:C 48.66 0.79%). To wit, on the 14th of October, JP Morgan analyst, Nick Lai, set a new June 2021 price target of $40 for NIO shares on the basis of a 3.0x Enterprise Value (EV)-to-Sales estimate for the year 2025. Crucially, JP Morgan had noted that NIO would be able to capture 7 percent of the cumulative EV market and a whopping 30 percent of the premium EV segment by 2025. Moreover, in an important development that bodes well for the stock’s prospects, the world’s largest hedge fund remains firmly ensconced in the bullish camp. As an illustration, Bridgewater Associates held 1.57 million (1,569,456) NIO ADS shares, worth over $33 million ($33,304,000), as of the 30th of September 2020. This data has been gleaned from Bridgewater’s 13F filing with the SEC on the 13th of November. Bridgewater’s current stake in NIO represents an increase of over 83 percent relative to the previous 13F filing by the hedge fund on the 12th of August 2020.
Lot of information out there about this company and a lot of hype as well.
Additionally, Li Bin revealed in a recent interview with a Chinese TV channel that NIO was leveraging its ongoing partnership with JAC Motors to increase its production capacity to 150,000 units in 2021. In a crucial insight, the CEO also indicated that the company’s production capacity would double to 300,000 units per annum, corresponding to a monthly production capacity of 25,000 units, by the end of 2021. Then, on the 1st of November, the company announced its ambitious overseas expansion plans. Dubbed the Marco Polo Project, the endeavor will see NIO establish its presence in key geographical segments. Most analysts expect Europe to be one of the first target destinations for NIO.
Going to have to play this on based on your own feelings as it has substantial swings and it very volatile.
On the hourly chart it appears to be settling back down into its prior channel. I believe much of the down side was due to people taking profits and rightly so. If it respects the previous trend its certainly good for some quick scalps, or an entry for a long position.
https://wccftech.com/nio-shares-are-in-a-maelstrom-as-citron-slaps-a-sell-rating-while-the-worlds-largest-hedge-fund-increases-its-bullish-stake-in-the-company/
NIO has also received endorsements from the likes of JP Morgan (NYSE:JPM 114.08 0.63%) and Citi (NYSE:C 48.66 0.79%). To wit, on the 14th of October, JP Morgan analyst, Nick Lai, set a new June 2021 price target of $40 for NIO shares on the basis of a 3.0x Enterprise Value (EV)-to-Sales estimate for the year 2025. Crucially, JP Morgan had noted that NIO would be able to capture 7 percent of the cumulative EV market and a whopping 30 percent of the premium EV segment by 2025. Moreover, in an important development that bodes well for the stock’s prospects, the world’s largest hedge fund remains firmly ensconced in the bullish camp. As an illustration, Bridgewater Associates held 1.57 million (1,569,456) NIO ADS shares, worth over $33 million ($33,304,000), as of the 30th of September 2020. This data has been gleaned from Bridgewater’s 13F filing with the SEC on the 13th of November. Bridgewater’s current stake in NIO represents an increase of over 83 percent relative to the previous 13F filing by the hedge fund on the 12th of August 2020.
Lot of information out there about this company and a lot of hype as well.
Additionally, Li Bin revealed in a recent interview with a Chinese TV channel that NIO was leveraging its ongoing partnership with JAC Motors to increase its production capacity to 150,000 units in 2021. In a crucial insight, the CEO also indicated that the company’s production capacity would double to 300,000 units per annum, corresponding to a monthly production capacity of 25,000 units, by the end of 2021. Then, on the 1st of November, the company announced its ambitious overseas expansion plans. Dubbed the Marco Polo Project, the endeavor will see NIO establish its presence in key geographical segments. Most analysts expect Europe to be one of the first target destinations for NIO.