Buy, Hold or Sell NIO stock right now? – Idaho Reporter

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Buy, Hold or Sell NIO stock right now?

The NIO stock is obviously still suffering from the attack by the shortseller Citron Research, which warned against the shares of the Chinese Tesla challenger on Friday: From the new all-time high of $54.20, the NIO share fell to $41.11 within a very short time frame.

Anyone buying NIO stock now is not buying a company or its prospects, rather you are buying 3 letters that move on a screen.

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Although NIO improved again and moved over $45.00 by the end of trading on Tuesday, on Wednesday it fell slightly again. The weakness may not have been due to the quarterly figures.

Because on Tuesday, NIO reported significant progress in the most recent quarter: The EV manufacturer increased its sales between June and September to the equivalent of just under $666.6 million, a full plus of 146.4 percent compared to the previous year. Unsurprisingly, the up-and-coming company continues to make losses, albeit significantly less. NIO showed a net result of minus $160 million, in the previous year the deficit was more than twice as high. With the latest results, according to the report, “the original forecast has been exceeded again”. Thanks to various capital injections, NIO also has liquid funds of around 3.3 billion dollars.

NIO share: Still a huge gain

And the automaker has formulated ambitious goals: after a new record for quarterly deliveries of a total of 12,206 EVs of the ES8, ES6 and EC6 models, NIO is now aiming for 16,500 to 17,000 vehicle deliveries, it said. The challenger is still far behind the US company Tesla. However, analyst Rebecca Wen of investment bank JP Morgan believes “that NIO will be a long-term winner in the premium EV space, with 30 percent market share by 2025”. Investors are also winners: Despite the current correction, NIO increased its market value by a further 50 percent last month.

So, the question remains. Should you Buy, hold or sell Nio stock right now? Three days ago I warned you that NIO was ready for a major pullback. Right now I do not see any major selloffs but rallies are out of the question for now as well. If you already hold NIO shares you should see some gains in December, until then stay safe and check that technical chart often.

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