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 invested USD 738 million in Nio in July 2023. In June 2023, Nio has signed a strategic partnership with CNOOC, China 3rd largest oil company to build charging and battery swap infrastructure. The Chinese authorities has extended the EV tax break until 2027. In August 2023, Nio announced that it delivered 20,462 vehicles in July, representing an increase of 103% year over year. The deliveries consisted of 14,066 premium smart SUVs and 6,396 premium smart electric sedans. Cumulative deliveries has reached 364,579 as at July 31 2023. In July 2023, both Nio's ET5 and EL7 were awarded the 5 star rating in 2023 Euro NCAP safety tests. Wall Street Analysts are also bullish on Nio with a Buy rating, Target price of USD 20.73. Nio is set to reports its latest earnings on August 29 2023. At the last closing price of USD 10.67, Nio is a Buy for me as I believe that it is undervalued. I am short term Bearish on Nio but long term Bullish as it has an exponential growth ahead. Time and patience are required for Nio to realise its full potential. @Daily_Discussion @TigerStars @MillionaireTiger @Tiger_comments @Tiger_Earnings @CaptainTiger @Trend_Radar