The Chinese EV maker Nio reached today a new 52-week-low at $22.53 during Jerome Powell speech regarding FED’s meeting. Despite the recent catalysts, share price is currently 60.09% down in the last 12 months and 28% down year to date.
Nio’s share price reach its All-Time-High on January 2021 at $66.99. At the time, Nio held the NIO Day 2020 and released a new Sedan Model, the NIO ET7. The stock had an amazing year of 2020 (even with the Covid-19 pandemic effects) but has been struggling since then.
Fed Chairman Jerome Powell said, at his news conference: “I think there’s quite a bit of room to raise interest rates without threatening the labor market”. After being up during the first hours of the trading day, the major stock market averages turned negative.
Asset purchases also are likely to halt in March, and the central bank released a paper outlining principles to start “significantly reducing” the bond holdings on its balance sheet. However, it wasn’t indicated a specific time frame.
“With inflation well above 2% and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate” — the central bank said.
On January 22th, 2022, NIO’s founder, William Li, and Manager of NO Norway, Marius Hayle, gathered with 20 Nio users for a conversation. William Li provided a lot of new information during these session regarding the ET7 and ET5 Models, Nio Navigation, Nio Operating System and the ES8 Update.
The company revealed that the ET7 Model — announced last year during NIO DAY 2020 — will arrive to Norway during Q4. It was also announced that the new ET5 Model, with 1,000km range, will be available in Norway (and several other global markets) during the Spring of 2023.
Last week, Nio officially opened its first European Battery Swap Station, located in Norway – the first European Country for the Chinese EV maker. By the end of 2022, Nio will have Stations in five different Norwegian cities, with a total of 20 for the Norwegian customers.