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Thread: NIO Stock
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NIO Stock
Bought some shares of the Chinese EV maker back in the fall at $48.00. Now it's down to $33.00. Reason to panic?
"We're not changing anything." -John Harbaugh
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Re: NIO Stock
It's very difficult to invest in Chinese companies. Are their financials held to the same standards as US or European or even Indian companies? They claim to be but who knows? Plus as we saw with Jack Ma the Chinese government can't just take you down on whim.
Last year a guy I work with who had made a tremendous amount of money on Tesla bought Nio. This was after it's first big jump up to around $15. It fell back to $12 almost instantly where he bought more. Then it really took off. I felt stupid for not listening to him but Chinese stocks scare the hell out of me. I'd much rather be investing in a US company like Tesla or Yum with significant business in China than a Chinese company.
If you look at the chart since NIO it looks like support was at $44.56 and then at $40.98 and it's blown right through both. NIO hasn't been below the 200 day moving average since this run began and that's $30. You close below that and yes you are in trouble because the story is broken. As of right now it's $38 and like a lot of other tech it hit a real low point around 11:30 on Friday and recovered. If you are okay with risk wait and see if it can hold $30 over the next week. If not then you should probably get out on the next up day. Good luck.
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03-07-2021, 09:34 PM #3
Re: NIO Stock
There is a lot of evidence that many of these Chinese companies are nothing but shells. When potential investors visit these companies they are up and running and when they leave the place shuts down.
I wouldn't put 2 cents into a business I couldn't go and watch run and there is no chance I am going to China to see any plants or warehouses. Not that I would, just that I could.
If you can't verify the business is real it is nothing but a shell game.
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03-07-2021, 09:47 PM #4
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Re: NIO Stock
They are not for me. I look at something like Luckin Coffee, the 'Starbucks of China' which completely made up their revenue. It was about $300 million less than reported. They were delisted from the Nasdaq and still found the money to pay massive fine and survive. No one seems to know where that money is coming from. As an investor would I actually own anything if I owned the shares? I know those who have done well with Chinese companies but they sure aren't for me.
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03-08-2021, 04:26 PM #7
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06-07-2021, 01:52 PM #8Veteran Poster
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Re: NIO Stock
Bought NIO July 40 options a few weeks ago back in the 30s. Done well, up about 9k. Ought to lock in profit but letting it all ride as hopefully expecting an explosion in price soon now that chip shortage is apparently easing up. Should boost sales.
Also - for those that believed in me when I said buy BNTX when it was in the low 90s...you're welcome. Expecting well over 300 per share by Sept/Oct.
Also for those that like a volatile gamble. Buy Oct 250 NVAX calls. I stand to lose 10k but may make 50 to 100k as if approved it will shoot well over 300 by Sept.
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06-07-2021, 05:21 PM #10Veteran Poster
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06-07-2021, 10:06 PM #12Veteran Poster
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