Awsome, plus 100 million shares traded today and it doubled the IPO price on the second day. Bought at 8.82. Good for tesla haters to go long for a change and I think it is working. Thoughts?
I just looked up the prospectus. 1 billion shares outstanding. 1 ADS = 1 ordinary share. That means the market cap at today's close is 12 billion USD, with options (diluted) probably even more. They are just starting to deliver cars, all right, so the revenue will grow. But in H1.Jun18 they had revenues of 7M and cost of sales of 30M. And overhead of 480M. All figures in USD. That overhead figure doesn't seem to be an aberration as for full year 2017 it was 750M. I confess I haven't looked deeper into the prospectus... but just from those numbers I am scratching my head American investors who are far removed from the company threw 1b USD at this IPO. (160M ADS at 6 dollars). The smart money over at Robinhood is piling in now. Guys (and girls), the markets are getting bubbly.
Indeed, thanks for input. Agree, traders are piling in on volume. Too much uncertainty in global markets. Besides, dont underestimate the hatred for elon musk! I speak for myself, i dont like the guy and thats mainly why I took a look at this company.
While quite a few seem to have hit a homerun I'd be weary as Bloomberg had an article recently that China has 487 electric carmakers with a lot heavily subsidized by their gov't to reach their 2025 goal. Out of that number they figure a dozen or two dozen will survive. Granted this invested by Tencent which seemingly has their hand in every IPO lately(PDD and Xienchuan or something like it). Then again, TLRY with poor fundamentals is up 500%, to be a $5-$10B pot company anything is possible.
I was arguing with this guy on youtube who insists NIO had charts back in 1996. I told him this is a recent IPO and that wasn't possible and that it was most likely a different company that no longer exists. He says he doesn't care about that, he is just trading price action and the price bounced at $9.23 on OCT of 2008 in his charts and he made $3000. He is using price action history (20 years ago) from a completely different company that just happen to share the same ticker symbol and got super ass lucky. Tell me that isn't idiotic or actually a viable strategy?
lolol sounds a bit idiotic. This stock has the potencial to be a cash cow in my opinion though. Intraday on heavy volume when price action is welcoming. Just like Tilray.
Here is his reply! Just so you can get a taste of how he actually thinks. +GotherL lol it does no matterrrr !! How many times does i have explain that. Its still the same ticker. The ticker stays the same whether the ticker was re-acquired or not which means the price action history stays with that ticker and therefore my clearly prove this. I can understand if it was a different ticker name but its not. Its the same $NIO it was 12 years ago at the end of the day just a different buisness behind it. Think about that. Again looking at previous support and resistance levels before the stock was delisted, today it still traded and tapped those levels end of story. Fundamentals are not important when it comes to day trading. Get that through your head