Nio Inc (NIO)

[rbd1]

I am reading an article about NIO’s opening on Thursday. The article says that NIO traded flat on their IPO. The IPO was priced at $6.26 went down a bit but closed at $11.60 that is not flat in my book. Someone is trying to keep it low, why? I don’t have a clue but this company is going UP & UP wether we like it or not.
The following article is misleading:

NEW YORK/HONG KONG (Reuters) - Chinese electric vehicle start-up NIO Inc (NIO.N) priced its shares near the bottom of its targeted price range in its U.S. initial public offering, according to sources familiar with the matter, dragged down by investor concerns about the prospects of chief competitor Tesla Inc (TSLA.O).

At the start of the IPO process, NIO had hoped for a valuation of as much as $20 billion, according to one person familiar with the company’s plans.

NIO might not have gotten what they wanted but they will catchup very fast in the days, weeks, months and years to come.