This is gonna be a controversial stock, that people will either love or hate. It will be a great momentum play with high volatility in both direction. Great to play for catalysts, news etc. Let' s enjoy the show.
The price of something is the amount of $ that people are ready to pay.
NYSE:NIO has been popular over the last week, lots of hype on this one.... BUT can we trade the HYPE? Let's see! Looking like a buy setup on the lower time frames!
NIO's IPO was welcomed with much fan fare but has weak since close of its second day trading. I'm watching a tight 4hr pattern here, but coming across some fundamental information has me leaning bearish on this stock.
As for the fundamental news, the author of the article linked below poses the $12 billion question:
"A question. Is the untested EV startup NIO...
Company Summary
It has been stated that NIO's mission is to shape a joyful lifestyle by offering premium smart electric vehicles and being the best user enterprise.
NIO, which translates to “Blue Sky Coming” in its Chinese name, originated from NIO's vision of a future filled with blue skies. NIO believes that improved smart electric car technologies, coupled...
