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$NIO Inc (NIO.US)$ Investors are getting more skeptical abou...
$NIO Inc (NIO.US)$
Investors are getting more skeptical about putting their money into shares of China-based companies after SEC recently decided to tighten its grip on foreign companies listed in U.S. The SEC will accomplish this by implementing a law requiring companies to submit their accounts reports and other documentation for audit. If they fail to comply, they face the risk of being banned from trading on U.S. stock markets.
Investors are getting more skeptical about putting their money into shares of China-based companies after SEC recently decided to tighten its grip on foreign companies listed in U.S. The SEC will accomplish this by implementing a law requiring companies to submit their accounts reports and other documentation for audit. If they fail to comply, they face the risk of being banned from trading on U.S. stock markets.
TCW Group forecast "most" U S listed China stocks will be delist by 2024. Meanwhile, Nio's rivals are gaining a foothold in China, with XPeng catching the attention of Cathie Woods' attention.
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bullrider_21 OP : XPeng is the only "Tesla rival" that has caught Cathie Wood's attention. Her choice may even have led some EV investors to switch from Nio to XPeng.
huatSG bullrider_21 OP : why switch? buy all 3. haha
huatSG bullrider_21 OP : u cant predict if cathie suddenly sold all Xpeng and bought Li auto or Nio dip as well.
simplyZuan huatSG : yup smoke screen from fund manager. xpeng P/S ratio is a scary 3000+
bullrider_21 OP huatSG : Their switches may have led to selling of Nio.
102095561 : next year nio will reproduce 600k vehicle so they will switch back
Jimmy28494 : Great