China's Nio to Get $2.2 Bln Investment From Abu Dhabi's CYVN
Key Takeaway
NIO
published a press release announcing that it was on track to receive a new round of investment funding from CYVN Holdings -- an Abu Dhabi-based holding company. Per the agreement, CYVN will invest $2.2 billion in
NIO
and receive 294 million shares of stock at a price of $7.50 per share.
Technical Analysis
NIO
has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development.
NIO
has broken a resistance level in the short term and given a positive signal for the short-term trading range.
NIO
published a press release announcing that it was on track to receive a new round of investment funding from CYVN Holdings -- an Abu Dhabi-based holding company. Per the agreement, CYVN will invest $2.2 billion in
NIO
and receive 294 million shares of stock at a price of $7.50 per share. Technical Analysis
NIO
has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development.
NIO
has broken a resistance level in the short term and given a positive signal for the short-term trading range.
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