That's why I sold some NIO last week. It went up and tested low 60s and was rejected. I think it still had upside to $80+ but I felt I'd get more returns elsewhere too.
I had first hopped in NIO at $39
I'm starting to feel the same. I got in earlier than you, got up to 3x but it seems about time I take my gains and leave. I can take 2x and watch it grow somewhere else.
And lets be honest, what's the likely hood of NIO 2x right now? I hoped to compare them to Tesla, but Tesla is apart of a much bigger movement. They literally flew one of their cars into space. NIO just wants to make a good car. They are not gonna catch up until they become more than a car company.
My goal was to hold long, the major milestone would have been them manufacturing their own cars... but they still have a partner and no plans to build themselves. Seems even more committed to manufacturing partnership. I don't know if they are really in this to grow beyond what they are today as a company. Just higher volumes. Thats just enough to keep their shares value stagnant / in weekly flux.
