Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter
The shares of the electric vehicle maker NIO hit on Tuesday a new 52-week-low at $12.93, nearly 81% below its all-time-high in January 2021. Despite the recent catalysts – namely the new SUV model NIO ES7, ET7 sedan arriving European Markets and the opening of NEO Park – the stock have been struggling for more than a year.
| Timeframe | Performance |
| 5 Days | -24.79% |
| 1 Month | -32.25% |
| 3 Month | -46.60% |
| Year-to-Date | -58.38% |
| 1 Year | -62.19% |
As of May 10, NIO has 787 institutional owners and shareholders holding a total of 570,931,710 shares. Largest shareholders include Baillie Gifford & Co, BlackRock, Vanguard Group, State Street Corp, Vanguard International Growth Fund Investor Shares, and Susquehanna International Group.
According to the SEC form published on Monday, the Norwegian Norges Bank sold its position on NIO dumping a total of 13,749,756 shares during the first quarter of 2022. As reported in March, Norway Central Bank had bought 3,237,003 shares in the last quarter of 2021. At the time, the buy represented an increase of 30.8 percent from the 10,512,753 shares the bank was holding by the end of the third quarter.
Last week, US SEC updated the Holding Foreign Companies Accountable Act (HFCAA) list adding NIO, XPeng and 80 other Chinese companies. According to the law approved in late 2020, the companies on the list used an auditor “whose working paper cannot be inspected or investigated completely by the PCAOB”. Previously, on April 22, also the Chinese automaker LI Auto was added to the HFCAA list.
NIO officially answered that has been “actively exploring possible solutions to protect the interest of its stakeholders”. The EV maker also continue to comply with applicable laws and regulations in both China and the United States, and strive to maintain its listing status on both the NYSE and the HKEX in compliance with applicable listing rules”. XPeng had not officially responded to the matter.
Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter