Baillie Gifford Dumped 84% of Its Stake in NIO Stock
$NIO-SW(09866.HK$ $Tesla(TSLA.US$ $BYD COMPANY(01211.HK$ $XPeng(XPEV.US$ The article reported that as of March 29, Scottish investment firm Baillie Gifford owned 18.91 million shares of NIO stock, equivalent to a 0.98% ownership stake. The firm owned 114.92 million shares, equivalent to a 5.97% ownership stake, as of Dec. 29, meaning that it cut its stake by a significant 83.54%.
My take: I have not posted about Nio stock for a while so this came as late but nevertheless was still relevant. This hedge fund has totally lose confident on Nio. $NIO-SW(09866.HK$ share price continues to hit a new 52-week low AND historical low price of 29.50 HKD this morning. According to Market Watch, the stock has fallen about 60% YTD. I'm surprised some analysts are still recommending a Buy rating. You can read my previous posts about the reasons for the poor performance:
Data showed Nio Stock Is Susceptible to Further Downside
Data showed Nio Stock Is Susceptible to Further Downside
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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SPACELIGHT : So?
102711703 : Old news
70552586 : Most funds can’t own stocks that are valued less than $5, I would think NIO institutions investors have dumped most of their holdings and mainly retail investors left or hedge funds shorting the stock to zero
ZnWCOP 102711703: Obviously you didn't read everything. This is not new:
$NIO-SW (09866.HK)$ share price continues to hit a new 52-week low AND historical low price of 29.50 HKD this morning.