“Shares of Nio soar more than 20% as EV deliveries more than double in April”
May 8, 2024
“Shares of Chinese electric vehicle maker Nio Inc jumped 20% Thursday after its vehicle deliveries more than doubled in April.
Hong Kong-listed shares of the company jumped as much as 23% to 44.20 Hong Kong dollars, touching their highest level in over six weeks. Nio shares also helped boost the broader Hang Seng index, which jumped 2% by midday trading. Nio said it delivered 15,620 vehicles in April, a 134.6% year-on-year increase…”
It’s important to note that the vast number of EV companies are doing horribly in China. The market is over saturated and the companies that survive stand to make great gains. Why, because after economic collapses there’s less competition.
To quote John D. Rockefeller a very evil man: “Competition is a sin.”