Purchase Details

Company: NIO Ltd
Ticker:NIO
Yahoo Beta:2.73
Industry:Auto manufacturers

Company Description:  NIO is a Chinese electric vehicle producer. The company also offers a Battery-as-a-Service model, which allows users to switch batteries rather than charging them.

Purchase Date:22 Mar 2021
Purchase Price:$42.72
  --Split Adjusted:$42.72
Shares Purchased:70
  --Split Adjusted:70
Transaction Fee:$0.00
Price Range (6 Months Prior):    
High$62.84
Date09 Feb 2021
Low$17.85
Date24 Sep 2020
S&P (Purchase Date):$3,927.24

Timing:  We bought above the midpoint of the six-month range.
Reason:  The demand for electric vehicles (EV) is growing world-wide. China has stated that it wishes to go from its current level of 5% EVs to 25% in less than five years. The EV market worldwide is growing rapidly. NIO has announced plans to begin exporting to Europe. NIO has a good business model, strong revenue growth, and an interesting Battery-as-a-Service model. The company plans to allow BaaS customers the ability to pull up to a service station and switch out a depleted battery for a fully-charged battery automatically in a few minutes.

Total Spent:   $2,990.40