NextEV
Nio, the Tesla of China, has millennial investors pilling into the stock after its US initial public offering since week.
- Millennial investors have been pilling into $4, the Tesla of China, shares since its US initial public offering last week.
- Nio shares have gained 46% since their IPO, and is the 29th most held stock on Robinhood.
- $4
$4- the Tencent-backed electric-car startup widely seen as the Tesla of China - has become a darling for investors on the stock-trading app $4, a no-fee brokerage popular among younger traders.
Shares have gained 46% since theit US initial public offering last week, and are now held by 46,971 Robinhood investors, the site's data shows, making it the 29th most held stock.
To give some content, another popular Chinese tech stock, $4, referred to as the Netflix of China and currently the 31th most popular stock on the brokerage, first appeared in the top 100 in late May - two months after it was listed on US markets.
Nio $4$4 the low end of its range, and failed to raise the $1.8 billion it sought. But, one day after its lackluster debut, the stock soared 75%, $4
More recently, Nio, like many Chinese tech stocks that are listed in the US markets, came under pressure amid the recent $4 .
Nio, orginally named NextCar, was founded by William Li in November 2014, and changed its name in July 2017.
$4 China could have 4 million electric vehicles in 2023, with Nio likely grabbing around 13% of total market share and 42% of the mid- and premium- electric market. That'll cause its revenue to double that time, he said.
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Business Insider