NIO Sank 17.07% on Tuesday, Suffering Worst Day In 11 Months After $1 Billion Planned Convertible Debt Offering

Electrek2023-09-20

Up-and-coming Chinese EV maker NIO’s stock is falling after announcing a proposed total of $1 billion in convertible senior notes on Monday.NIO revealed in an SEC filing it plans to issue two batches ...

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Hangen
2023-09-20
Hangen
Haven't earn money... already want more money
- Meoooow:
  Disaster coming?
Andrewinho
2023-09-20
Andrewinho
Run!! 😱😱😱

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The drop comes after NIO’s shares peaked at $16.18 in early August following a two-month run.CEO William Li said, “Attributed to the product transition based on the NT2.0 Platform, coupled with the expansion of our power network and the strengthening of our sales capabilities, we expect a solid growth in vehicle deliveries in the second half of 2023.”NIO launched several new models this past quarter expected to help drive sales and expand the brand, including the new ES6, launched in late May, and the ET5 Touring electric station wagon in June. 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