2 factors in NIO's recent spike; 1. record sales 2. EV Hype
I am thinking we could see a sell the news scenario come into reality when earnings come and it will be ugly for the stock. This has achieved an all time high based on 1 month of sales. The velocity of the uptrend is discounting profitable quarters in the near future which is far-fetch.
While I am bullish on EV, it is not a bad idea to hedge against your NIO position after this monster rally.
I am thinking we could see a sell the news scenario come into reality when earnings come and it will be ugly for the stock. This has achieved an all time high based on 1 month of sales. The velocity of the uptrend is discounting profitable quarters in the near future which is far-fetch.
While I am bullish on EV, it is not a bad idea to hedge against your NIO position after this monster rally.