NIO is a Chinese-based electric car company that had also filed their request for going public, which officially became the case back at the end of September 2018 when the company had its first initial IPO sale.
NIO is also known as Chinese Tesla, however, unlike Tesla, NIO manufacturer has a lack of history in operations, have previously lacked a clear business path as well as profitability.
Still, NIO found its way towards investors interested in the industry of electric cars, and that would like to add some diversity to their portfolio, which ultimately helped NIO shares, listed on Nasdaq under the thicker (NEO) to rise by 93% only two days after the initial sale started, despite not as successful first day of IPO sale.
How Well is NIO (NIO) Doing in the Market in 2019?
NIO had previously arranged their IPO plan to start the initial sale between the price of 6.25$ and 8.25$ per share, also setting their IPO estimates at the value of 8 billion dollars before the sale officially started.
NIO didn’t have much luck on the first day of their IPO sale as the shares sank below the starting price right before the opening, however, the shares took a rebound only two days later, pumping the price of NIO by 93% in a single day back at the time.
The company managed to collect 1 billion dollars with their initial public offering, making their sale a success, while NIO is seeing positive trends in the market even at the beginning of the second quarter of 2019.
However, the shares are traded below the starting price, currently set at 5.35$ per share after the latest change by 0.66%.
The company is expanding by planning on designing and creating an electric SUV, which should consequently affect the profits of the company as well as the share price in the market in a positive way.