NIO and the Chinese Government. via /r/wallstreetbets #stocks #wallstreetbets #investing

NIO and the Chinese Government.

TLDR: No, the Chinese government isn't really standing behind NIO.

Disclaimer, holding about 10K shares of Nio (don't have the exact number since I am too lazy to check my 3 accounts).

I'd like to say a word or two about NIO and people's belief that the government bailed it out or is standing behind it. No, I don't think that is true. It was the Hefei municipal government that invested in Nio and not the Chinese government at the national level. Now, then what's the national government doing? Well, they are supporting the EV industry and that is not equal to supporting a company called NIO. We all know that Nio isn't the only EV company, and frankly, I don't think Nio is big enough at this point to catch the attention of the government officials. They've got bigger things to worry about. BTW, the Hefei municipal government is known for being an eagle-eyed investor with a pretty good track record.

Submitted November 12, 2020 at 08:45PM by Carrera_GT
via reddit