The Fundamental reason for NIO weakness
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 without its own plant, or manufacturing license, backed by Netease, an internet gaming company, with its $1.67 BV/Sh and 12B market cap, really worth a 60 times higher Market Cap than time tested profitable NASDAQ listed Kandi Technologies, (KNDI) with only a $200 million market cap?"
finance.yahoo.com/news/nio-inc-china-12-billion-175746086.html?.tsrc=rss
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 without its own plant, or manufacturing license, backed by Netease, an internet gaming company, with its $1.67 BV/Sh and 12B market cap, really worth a 60 times higher Market Cap than time tested profitable NASDAQ listed Kandi Technologies, (KNDI) with only a $200 million market cap?"
finance.yahoo.com/news/nio-inc-china-12-billion-175746086.html?.tsrc=rss
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