Nio stock falls after shareholders file to sell off their stakes
Dow Jones2021-07-23
Share of Nio Inc. $(NIO)$ shed 3.52% in premarket trading Friday, after the China-based electric vehicle maker disclosed the offering of 1.68 million shares by selling stockholders.
In and S-1 filing with the Securities and Exchange Commission late Thursday, Quasar Energy Partners LLC, Philipp Brothers Fertilizer LLC and Little Brothers LLC are selling off their entire stakes in Nio, totaling 1,682,267 shares, representing 0.4% of the shares outstanding and valued at $77.5 million at Thursday's closing price of $46.07.
The company said it will not receive any proceeds from the offering.
The stock has lost 5.5% year to date, while shares of U.S.-based EV leader Tesla Inc. $(TSLA)$ have declined 8.0%, the iShares MSCI China ETF $(MCHI)$ has slipped 4.3% and the S&P 500 has gained 16.3%.
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As an investor, I am looking beyond the horizon as selling 0.4% or 1.68m+ shares by shareholderswon’t make any impact to any companies who are developing and expanding. I told myself not to be panic selling if you knew the company is expanding and growing rapidly. Likewise, try to find out more details and take the opportunity to buy the dip, “Be greedy when others are fearful” learning with WB.Evidently, MarketWatch has incorrectly reported about Nio shareholders filing and indeed it was Nikola stock instead of NIO. So, what’s happening to those panic sellers who sold NIO stocks? Hopethey could buy back quickly during the dip. Like to share WB quotes:“Warren Buffett has a saying about the stock market and
