Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
NIO (NYSE: NIO) shares are down premarket on Wednesday after the electric vehicle firm announced that it has filed a prospectus to sell up to $2 billion of its American depositary shares.
The Offering is an at-the-market one, which will price the shares at the going market rate.
The company said it plans to use the proceeds to further strengthen its balance sheet, as well as for general corporate purposes.
NIO's shares closed Tuesday's session at $40.59. However, since the offering announcement, they are down 2.32% premarket at $39.65.
Last week the Chinese EV maker reported that deliveries for August had been impacted by the ongoing chip shortage. As a result, it cut its Q3 production target.
One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It's a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .