To The Moon

🌟🌟🌟$NIO Inc.(NIO)$ Has been on a wild roller coaster ride this week. Its share price has tumbled down 7% today and in the past 5 days, it has dropped almost 14%. However Nio is up 10% year todate but still down from its high of USD 22.74 in the past year. Is Nio A Buy now? Tesla has recently reduced its prices of Model Y by over USD 1900 in China. It is also giving an insurance subsidy for its Model 3. This has put pressure on the other EV makers to cut price in order to remain competitive. Nio is also facing macro headwinds as China's economy is slowing down. On the plus side, Nio has announced that CYVN Holdings, a company owned by the Abu Dhabi Government has i

The Labor Department said on Thursday that initial claims for state unemployment benefits rose to an adjusted 239,000 last week, below market expectations of 240,000 and down from a revised 250,000. The number of people continuing to collect unemployment benefits last week came in at 1.716 million, below market expectations of 1.7 million and up from 1.84 million. Overall, the job market remains resilient.In political and economic news, minutes of the Federal Reserve's July meeting released on Wednesday showed that most officials pointed to significant upside risks to inflation that could warrant further tightening of monetary policy, and the market expects Fed Chair Jerome Bauer to make similar comments at the annual meeting of global central banks next week.Markets await next week's annu

I think it is really risky to invest in Chinese stocks in the current climate. There I said it! When I mention “Chinese stocks”, I refer to stocks from both China and Hong Kong exchanges. Both China and Hong Kong economies are in a doldrum to put it mildly. This alone makes investment risky, when any economy is faltering due to many reasons. If you have been keeping up with the news coming out from China, you will concur too. (1) Property Market Crisis. China property market is facing a major crisis. Many developers (state backed and private) are roiling the nation’s dollar-bond market and adding to concerns about the health of China, the world’s second-largest economy. This includes Country Garden (latest developer) seeking delay payment (for another 3 years) on a private onshore bond for