Yesterday, we saw $NIO+3.7% stock shoot up more than 11%.
This is because the company's CEO, Li Qiang, predicted at the World Economic Forum on Tuesday that China's economy will grow faster in Q2 than the 4.5% rate it grew at in Q1, and further claimed that it is on track to achieve annual growth of around 5%.
In addition to Qiang's overall bullish view on the Chinese economy, investors are stepping on the pedal with regard to buying Nio stock because of its focus on clean energy-related companies.
NIO
NIOQiang also said during his speech:
"We will introduce more practical and effective measures to expand domestic demand potential, activate market vitality, promote coordinated development, accelerate ecological transformation and promote high-level openness to the outside world."
Nice, very nice :)
Nice, very nice :)
I like news like that too, only with my $30 purchase I'm happy for any percentage up😭.
I read a lot about them, the company is going in a good direction, they have some interesting collaborations and partnerships there now that can help them grow in other markets. But I would wait until they are in profit in this case as well, until then I'm not moved.
It was a nice ride out there yesterday. Catching up with the growth of $PLTR+2.1% and others. As long as the eventual crash is not at a similar pace
I would be cautious about the outlook for China's economy, it is not so rosy there. I think they'll be happy if they meet the estimates.