The NIO stock price fluctuated between $35.2 and $36.07 throughout the trading session with the volume trading being 24M shares, which represented a negative variation when compared to the three months average volume of 50M shares.
The share price of NIO Inc. (NYSE:NIO) dipped -1.75% to close Friday’s market session at $35.38, lower as compared to yesterday’s close which brings the market valuation of the company to $57.97B.
The 52-week high for the NIO Inc.’s shares is $66.99. That puts it -47.19% from that peak but still a 91.44% gain since the share price dropped to a 52-week low of $18.43, while the S&P 500’s share price change was of 32.74%.
What does the trading volume tell us about the NIO stock?
During the last trading session, NIO Inc. (NYSE:NIO) has seen decay in its daily volume. The daily volume was of 50M, while in the last 10 days the average was 33.24M and last three months – 49.93M.
The decreasing interest in the NIO stock from the investors is helping to drive the stock price down.
Shrinking short interest
The NIO Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 60.58M shares being shorted which translates into 1.44 of a short ratio for NIO, while in the previous month the shorted shares were 60.64M.
NIO Inc.’s (NYSE:NIO) financials
With a market cap of 57.97B, NIO Inc. holds a total cash of $46.91B that translates into $28.63 per share, while the total debt is of $17.32B.
The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 127.20%. The current revenue is of $27.6B that is $19.18 per share.
This is a great sign for a bright future.