We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : NIO, XPEV, LI.. the Chinese Troika
NIO 43.17-1.9%4:00 PM EDT

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: roto4/25/2021 4:08:06 AM
   of 408
Is ARK Invest's Cathie Wood Interested In Nio?
NIO Inc. NIO 3.79% shares are seeing a nice upward bounce, and on a technical level the stock is signaling a reversal of a recent downtrend.

With so many catalysts lined up in the near- to medium-term, it is no wonder the stock is grabbing eyeballs.

Nio On Cathy Wood's Radar? Ark Invest's CEO Cathie Wood, a longtime Tesla, Inc. TSLA 1.35% bull, could be warming to the Chinese electric

vehicle startup Nio, according to indications from the fund manager.

Wood said in an interview with Business Insider in March that she's impressed by China's focus on electric vehicles and also said her team is looking

into Chinese EV players, including Nio and XPeng Inc. XPEV 2.88%.

The Chinese government could be backing a local winner in the EV industry as an ecosystem builds around China, Wood said.

The likely winner in the Chinese EV race could be Nio or XPeng or even Tesla, Wood said, adding that a homebred company is more likely to succeed.

Fund Buying Reignites Rumors: @AFT Alerts, a Twitter handle that tracks institutional buying and selling, tweeted Friday that 1,231,552 shares

of Nio were bought at $39.57 for $48.733 million. This set tongues wagging. In reply, excited Twitterati began to speculate the buying may have been
done by ARK Invest.

Nio Gains On Analyst Action, Sector-wide Strength: There is no concrete evidence of Wood's Ark Invest scooping up Nio shares. The strength

in the stock may have to do with a positive analyst action.

CLSA analyst Soobin Park initiated coverage of Nio shares with a Buy rating and $50 price target. The stock is also capitalizing on the broader market

strength that has spilled over into the EV sector.

NIO Price Action: Nio shares gained 3.76% Friday, closing at $41.08.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext