The Tesla of China soars after Tesla’s largest outside investor discloses a stake (NIO) – Finance


  • Institute of Oceanography shares rose on Tuesday after filing testimony that Baillie Gifford & Co, Tesla's largest investor after Elon Musk, has a large stake in the company.
  • The submission showed that Baillie Gifford & Co owned 85.3 million shares of NIO, representing 11% of the shares of the Chinese automaker.
  • Last month, Nio published information in the US and grew by 75% on the second trading day.
  • Watch real-time Nio buying here.

Promotions Nio, electric car maker, advertised as China's Tesla, in late trading on Tuesday at 20% Baillie Gifford & Co, Tesla largest investor after elon mask, had a significant position.

After the deck closed, stocks rose by about 7%.

Tuesday regulatory document showed that Baillie Gifford & Co owned 85.3 million shares of NIO, or 11% of the shares of the Chinese automaker, which cost about $ 515 million at the end of trading on Monday.

Institute of Oceanography published in the US last month. Promotions priced at 6.26 US dollars on September 12, at the bottom of his range, as a result of which the electric car manufacturer was unable to collect the $ 1.8 billion it was seeking. But the next day, reaching a record low of $ 5.35, stocks rose 75%, placing their market capitalization above $ 12 billion.

Tencent, a four-year-old startup, launched its first ES8 production car for users on June 28 and began earning revenue this year, according to his IPO submission.

Nio said that in the first half of 2018, she received an income of $ 6.95 million. The United States and that, at the end of August, 6,201 unregistered ES8 reservations were reserved for which non-refundable deposits were made.

Nio shares rose 18% after the IPO on September 12.




(Insider Markets)

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