Why Is NIO Stock Down Today? What About Ray Dalio And Norway's Central Bank

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Norway's central bank boosts positions in NIO and Li Auto, cuts XPeng in Q4
Norges Bank held 13,749,756 shares of NIO's US-traded ADRs at the end of the fourth quarter, its 13F filing with the US Securities and Exchange Commission last week showed.

That's up 3,237,003 shares, or 30.8 percent, from 10,512,753 shares at the end of the third quarter.

Norges Bank's holdings in NIO were valued at $435,592,000 at the end of last year, up 95.3 percent from $223,081,000 at the end of the third quarter.

In addition to buying more NIO shares, Norges Bank also significantly increased its position in Li Auto (NASDAQ: LI, HKG: 2015) during the fourth quarter.

At the end of the fourth quarter, Norges Bank held 3,056,877 shares of Li Auto's US-traded ADRs, up 990 percent from 280,374 shares at the end of the third quarter.
People dumped Hong Kong stocks on Monday like the world was coming to an end, even though there was nothing new to trigger panic other than last week's old news.

By Monday's close, Hong Kong's Hang Seng Index was down 4.97 percent. The Hang Seng Tech Index plunged 11.03 percent, the biggest one-day drop since it was launched on July 27, 2020.

Like other technology companies, shares of NIO, XPeng Motors and Li Auto, the leading Chinese electric vehicle companies listed in Hong Kong, all plunged.

NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. The company offers five, six, and seven-seater electric SUVs, as well as smart electric sedans. It is also involved in the provision of energy and service packages to its users; marketing, design, and technology development activities; manufacture of e-powertrains, battery packs, and components; and sales and after sales management activities. In addition, the company offers power solutions, including Power Home, a home charging solution; Power Swap, a battery swapping service; Public Charger, a public fast charging solution; Power Mobile, a mobile charging service through charging vans; Power Map, an application that provides access to a network of public chargers and their real-time information; and One Click for Power valet service, where it offers vehicle pick up, charging, and return services. Further, it provides repair, maintenance, and bodywork services through its NIO service centers and authorized third-party service centers; statutory and third-party liability insurance, and vehicle damage insurance through third-party insurers; courtesy car services; and roadside assistance, as well as data packages; and auto financing services. Additionally, the company offers NIO Certified, a used vehicle inspection, evaluation, acquisition, and sales service. NIO Inc. has a strategic collaboration with Mobileye N.V. for the development of automated and autonomous vehicles for consumer markets. The company was formerly known as NextEV Inc. and changed its name to NIO Inc. in July 2017. NIO Inc. was founded in 2014 and is headquartered in Shanghai, China.

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🔥 Disclaimer: Everything expressed in this video is a personal opinion provided for entertainment value only. I am not a professional nor a financial advisor. These are not instructions, suggestions, nor directions as to how to handle your money. Please, always do your own due diligence.
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