China's in the Spotlight as Nio Falls, PDD Jumps
Market volatility can be scary, but every so often, you can almost tell that Wall Street is trying to take advantage of what could be the last few quiet days of summer. That seemed to be the case early Tuesday, as stock index futures for major market benchmarks suggested very small moves when the market opens. Overall, market participants are waiting to see whether the economy starts behaving better or if high interest rates end up producing the recession that so many have anticipated for such a long time.
It's easy for investors in the U.S. to focus only on domestic stocks, especially since so many U.S. companies do business around the world. However, a couple of stocks from China caught the attention of investors Tuesday morning. As you'll see below, Nio (NYSE: NIO) moved lower after reporting its latest financial results, but Pinduoduo parent PDD (NASDAQ: PDD) got a nice jump.
Shares of Nio were down about 7% in premarket trading on Tuesday morning. The Chinese electric vehicle (EV) manufacturer reported second-quarter financial results that confirmed the high level of competition in China and raised concerns about Nio's position in the market.
Source Fool.com
NIO Inc. Stock
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the NIO Inc. stock is not clear.
As a result the target price of 5 € shows a positive potential of 21.89% compared to the current price of 4.1 € for NIO Inc..
