Nio Inc (NIO)

[JLS]

NIO Short-Sale Volume

The "short" data available at Yahoo is at least 30-days old, which means it is pretty much worthless. You can't figure out what's going on now with data that is 30-days old.

The data shown in the chart below is available every day and it is updated every day sometime after the market closes. Be careful as you look at it. Whomever produces that thing likes to put more days of data in the bottom chart than they put in the top chart.

Using that data, you will see that the spike higher in NIO's stock price at the end of December coincided with a very large spike in short covering -- virtually 10x normal.

Looking at the last two days, which includes today, the upper chart shows volumes near 0.1 which is slightly above normal for NIO. Simplified -- there is no abnormal short covering crap going on.

So don't be counting on your OMG-short-covering theory when you don't have the data to back it up. You'll be wasting your time.

Now look at the third and fifth candles from the right. The fifth is much higher than the third (which is essentially a doji). Now look at the bars in the upper chart at the same time positions. Those bars are almost identical, yet there was a nearly 20% move in the stock value.