NIO Stock Forecast: Nio Inc tanks after situation in Ukraine intensifies
Premium|Take advantage of 60% OFF on your first month.
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
You have reached your limit of 5 free articles for this month.
BLACK FRIDAY SALE! 60% OFF!
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
CLAIM OFFER- NYSE:NIO fell by 6.20% during Tuesday’s trading session.
- The ongoing tensions in Ukraine could affect Nio’s expansion to Europe.
- Nio does not refute claims that it is designing its own smartphone.
NYSE:NIO has certainly found itself at the middle of a political nightmare as the ongoing tensions in Ukraine intensify. Shares of Nio tumbled by 6.20% on Tuesday and closed the tumultuous trading session at $21.77. It was another bearish day for the markets as all three indices extended their recent skids. With reports that Russia will imminently march on Ukraine, the US markets tanked in preparation of economic sanctions that could see the price of commodities rise. The NASDAQ dropped by 1.23%, the S&P 500 fell by 1.01%, and the Dow Jones lost 482 basis points during the session.
Stay up to speed with hot stocks' news!
China and Chinese-based companies find themselves in an awkward position after aligning themselves closer to Russian President Vladamir Putin earlier this year. Nio could receive some backlash, particularly as a company that has its production facility in the hands of a state-run organization. The Chinese government also owns a stake in Nio, which could prove to be difficult for the company as it moves forward with global expansion. Nio is already planning to move to several other European markets this year and has plans to launch in the US in the near future. Depending on how China reacts to Russia’s invasion, we could potentially see a trickle-down effect for Chinese companies.
NIO stock price
Earlier this week a report surfaced from Chinese social media platform, Weibo, that Nio is in the initial stages of producing its own smartphone. When the company was asked about it on Tuesday, Nio refused to comment, stating that any updates will be released through the media as an official company announcement.
Like this article? Help us with some feedback by answering this survey:
- NYSE:NIO fell by 6.20% during Tuesday’s trading session.
- The ongoing tensions in Ukraine could affect Nio’s expansion to Europe.
- Nio does not refute claims that it is designing its own smartphone.
NYSE:NIO has certainly found itself at the middle of a political nightmare as the ongoing tensions in Ukraine intensify. Shares of Nio tumbled by 6.20% on Tuesday and closed the tumultuous trading session at $21.77. It was another bearish day for the markets as all three indices extended their recent skids. With reports that Russia will imminently march on Ukraine, the US markets tanked in preparation of economic sanctions that could see the price of commodities rise. The NASDAQ dropped by 1.23%, the S&P 500 fell by 1.01%, and the Dow Jones lost 482 basis points during the session.
Stay up to speed with hot stocks' news!
China and Chinese-based companies find themselves in an awkward position after aligning themselves closer to Russian President Vladamir Putin earlier this year. Nio could receive some backlash, particularly as a company that has its production facility in the hands of a state-run organization. The Chinese government also owns a stake in Nio, which could prove to be difficult for the company as it moves forward with global expansion. Nio is already planning to move to several other European markets this year and has plans to launch in the US in the near future. Depending on how China reacts to Russia’s invasion, we could potentially see a trickle-down effect for Chinese companies.
NIO stock price
Earlier this week a report surfaced from Chinese social media platform, Weibo, that Nio is in the initial stages of producing its own smartphone. When the company was asked about it on Tuesday, Nio refused to comment, stating that any updates will be released through the media as an official company announcement.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.