Electric vehicle maker Nio Inc (NIO) is today’s FOMO stock. Alex Coffey and Jenny Horne discuss the Chinese electric vehicle company’s disappointing debut on the Hong Kong stock exchange and its declining numbers overall this past year. Jenny looks at NIO’s numbers which are down 28% / share this week, 8% just today, one day after closing out its first day on the Hong Kong stock exchange, at a price equal to $20 / share. Jenny and Alex discuss a variety of factors contributing to Nio Inc’s struggle over the past year, most recently, China’s implied support of the Russian invasion of Ukraine. Alex talks about other U.S. listed Chinese names, also down since the Russian invasion of Ukraine including Alibaba (BABA). Alex points out that some investors might be weighing the risks U.S. listed Chinese names due to the geopolitical forces at play including the possibility of future U.S. sanctions against China. Finally, Alex demonstrates an example trade using Nio Inc (NIO).
14 Mar 2022