NIO (NIO, $40.67) to offer $2 billion ADRs
NIO Inc. announced that it will offer $2 billion of its American depositary shares through an at-the-market equity offering. An at-the-market offering allows a company to sell shares as needed at the prevailing market price.
The electric vehicle maker said proceeds from the sale will be used to strengthen its balance sheet and for general corporate purposes.
NIO delivered 5,880 vehicles in August, which is +48% higher from the year-ago period.
Earlier this month, NIO shares took a hit following the company’s downward revision of its the third quarter deliveries estimate -- to approximately 22,500 to 23,500 vehicles, compared to prior forecast of 23,000 to 25,000 vehicles.
NIO's Stochastic Oscillator is remaining in oversold zone for 2 days
Be on the lookout for a price bounce soon.
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Notable companies
The most notable companies in this group are Tesla (NASDAQ:TSLA), Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM), NIO Inc. (NYSE:NIO).
Industry description
Automobiles continue to be arguably the most popular form of passenger travel in the U.S., and major automobile makers have revenues and market capitalizations running into multi-billions. In recent years, the industry has been experiencing some path-breaking innovations like electric vehicles and self-driving technology. While there are long-standing companies like General Motors, Ford, and Toyota Motors operating in this space, there are also emerging/rapidly growing players like Tesla – which has had a major role in the growing popularity of the electric vehicle market. With technological advancements taking steam in the auto space, we’ve also witnessed collaborations (or talks of potential partnerships) of carmakers with tech behemoths like Google’s subsidiary, Waymo.
Market Cap
The average market capitalization across the Motor Vehicles Industry is 32.93B. The market cap for tickers in the group ranges from 2.49M to 559.85B. TSLA holds the highest valuation in this group at 559.85B. The lowest valued company is EVTGF at 2.49M.
High and low price notable news
The average weekly price growth across all stocks in the Motor Vehicles Industry was -5%. For the same Industry, the average monthly price growth was 1%, and the average quarterly price growth was -8%. BCAUF experienced the highest price growth at 14%, while GKIT experienced the biggest fall at -59%.
Volume
The average weekly volume growth across all stocks in the Motor Vehicles Industry was 42%. For the same stocks of the Industry, the average monthly volume growth was 13% and the average quarterly volume growth was 88%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 43
P/E Growth Rating: 74
Price Growth Rating: 66
SMR Rating: 74
Profit Risk Rating: 85
Seasonality Score: 0 (-100 ... +100)