20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Premium-segment-focused Nio Inc (NYSE:NIO) may be gearing up to make mass-market vehicles, the company’s CEO William Li suggested Sunday, as reported by Reuters.
What Happened: The Chinese automaker, which competes with the likes of Audi-maker Volkswagen AG (OTC:VWAGY), Mercedes-Benz-parent Daimler AG (OTC:DDAIF), and Bayerische Motoren Werke AG (OTC:BMWYY), would launch mass-market vehicles under another marque, as per Li.
“As EV technologies advance and battery cost lowers, it is possible that we may enter the massive market, but definitely not with Nio brand,” said the CEO.
Why It Matters: Nio launched its first-ever sedan dubbed the ET7 over the weekend. The vehicle’s standard edition is priced at $69,185 before subsidies.
The sedan will pitch Nio against high-end competitors but not against market leader Tesla Inc (NASDAQ:TSLA).
See Also: How To Buy Nio Stock and How To Buy Tesla Stock
The car may also offer competition to an EV made by Apple Inc (NASDAQ:AAPL) who is likely to forge a partnership with Korea’s Hyundai Motor Company (OTC:HYMTF) as early as March, according to an unconfirmed report.
See Also: How To Buy Apple Stock
Price Action: Nio shares closed nearly 8.5% higher at $58.92 on Friday and gained 0.24% in the after-hours session.
Related Link: Baidu Confirms Joining China EV Fray In Partnership With Volvo-Parent Geely
Click here to check out Benzinga’s EV Hub for the latest electric vehicles news.
Photo courtesy: Jengtingchen via Wikimedia
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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