Looking for a volatile IPO stock to trade? NIO (NYSE:NIO) fits the bill as shares follow on yesterday's monster 70% gain with a 25% drop before being halted by the Nasdaq on a mandatory volatility action.
The reasons for investors to be concerned about NIO include cash burn questions, a slow production ramp and a sky-high valuation - while the positive thesis on NIO hinges on Beijing support for EVs and growing demand for premiums EVs.
NIO's share price has ranged from $5.35 to $13.80 this week.
Previously: NIO +70% in second day stunner (Sept. 13)
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