Nio needs a larger investment to stay alive
Nio (NIO) currently trades at $2.36 and has fallen by 1% today. Nio stock falls after a Chinese media outlet reported that the leader of its electric-drivetrain engineering team is leaving the company. Chinese business-media outlet 36Kr reported that Charles Huang, the senior executive who has led NIO’s electric-drivetrain development efforts since 2015, will leave the company on June 30.
Based on this information, investorsQ rates this stock 4 out of 10. We give it this rating based on current information. NIO has been struggling to stay afloat. It said on March 18 that it lost $406 million in the fourth quarter of 2019. NIO was very close to running out of cash at the end of the year; it has since raised about $435 million, but it needs a larger investment to get out of survival mode. The high forecast for Nio is $89.46 and the low is $6.29. Notably, the company’s market cap is $2.48 billion with a 52 week high of $5.65 and a 52 week low of $1.19.