Electric vehicle (EV) manufacturer $NIO+3.7% seems to be enjoying the fruits of a particularly generous Chinese government of late. China's National Development and Reform Commission "urged local governments to ease restrictions on car purchases and introduce measures to encourage new car purchases."
NIO
NIOCapital Structure
Market Cap
8.4B
Enterpr. Val.
70.2B
Valuation
P/E
-2.7
P/S
1.1
This includes the use of electric vehicles in less metropolitan areas, as well as expanding the country's charging infrastructure. This should be one of the main reasons why Nio extended its growth streak yesterday, breaking the $15 mark for the first time in a really long time.
I'm looking now and I see -4.5%, so they're not doing so great.... :)
Does this somehow increase the state's share in society? Or is toneco like our subsidies?
I'm a Nio fan, I saw it on the German autobahn. Still a very long way to 35-40+ USD.
I read that there is already speculation about expansion into the US. That, along with the company's profitability in the coming years, could be a turning point.
I'm surprised at how companies are going along with this policy now, even Alibaba has picked up nicely. Well, I'm still scared of the local world but it's probably a mistake, I was already thinking when $NIO+3.7% was at $12-13, that's a nice growth, but I see it has already broken $15 and it can go higher. Too bad I didn't buy when I had the chance. Congrats to those who are holding. 👍