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<Editor's Pick> What is the next step for “Chinese Tesla” NIO after the market value shrunked by 70%?
As the second electric car company listed in the US after Tesla, the NIO dispute did not seem to have stopped. Especially because of the security risks and sales decrease crisis this year , the NIO stock price fell to a new low, and the market value has shrunk by 70%. In the context of a decline in subsidies for new energy vehicles and poor car sales, NIO's second production model, the ES6, begins deliveries. Can this improve the company's future performance? NIO has just raised tens of billions of yuan, can it sustain the company for cash-burning?
Does the reduction in subsidies led to a decline in performance?
As the first Internet car manufacturer listed in the US, NIO shares fluctuated between $5 and $7 after its successful listing. Since January this year, NIO shares have risen to a certain level, rising to a maximum of 10.6 US dollars. Since March, NIO shares have continued to fall to $2.35 on June 14. Last week, NIO followed the US stock market and rose by 12% in five trading days. However, last Friday, the stock price fell 6% again. In terms of market capitalization, the company's total market capitalization fell from 10.355 billion US dollars on March 5 this year to 27.74 US dollars last Friday, shrinking 70%.
“The reduction in subsidies has led to a decline in sales of NIO's existing main models, and the gross profit margin has also decreased. In addition, the localization of Tesla and the acceleration of investment in traditional car companies, especially luxury brand new energy vehicles, have led to increasing pressure on NIOs. " Everbright Securities analyst Ni Kuang told the reporter of Southern Metropolis Daily.