Why Nio Stock Tumbled 10% Today
Shares of Chinese electric car company Nio (NYSE: NIO) gave back 10.4% of its market capitalization Tuesday morning (through 10:50 a.m. ET).
It has only itself to blame.
This morning, you see, Nio announced that it is planning to offer $500 million worth of convertible senior notes due 2029 and a further $500 million worth of convertible senior notes due 2030.
Source Fool.com
NIO Inc. Stock
€6.21
-0.620%
With 2 Buy predictions and 1 Sell predictions the community is currently undecided on NIO Inc..
However, we have a potential of -3.44% for NIO Inc. as the target price of 6 € is below the current price of 6.21 €.
