Citron Research and NIO ~ My Two Cents

I will be honest, when Citron Research called Nio, I was a bit dumbfounded on what to say. On one side, I have picked Nio up when it was $2.96. The lowest I believe I bought NIO before calling it on Tradingview was around $1.73. That was in 2019 on an old Robinhood account. In April for a post, I literally predicted Nio would hit a $7 target by the year 2023.

I have already sold Nio off at $7, then $9, then $13. Selling off lots of my Nio early was one of my biggest mistakes in 2020, along with missing the $SPI spike, selling off $FVRR early, and being trapped by $ADOM shorts. I get when things don’t go as planned, yet I still have lots of strategies that beat the S&P500 easily. That is trading for you.

When Citron called this report, I looked at some of my mistakes in the past and wondered whether or not I’m in the position to judge their due diligence. However, giving a $25 target just because price is too high or what I have seen in the 5 page report still doesn’t seem justified.

I was going to do a post on Friday, but decided to wait and see how the market was going to react on Monday. I wasn’t disappointed. I also have called $LI at $17.01 during the month of August. As for Citron’s report, while I want to stay neutral, I respectively think that there is a chance Nio can hit $75 to $100 within a year. I think that is true even if it does somehow crash to $25.

Disclosure: Please keep in mind, everything I say is on an opinion based basis. This is not meant to be taken seriously or as actionable financial advice. Do your own due diligence and any trades/investments you do is at your own risk. We are not responsible, proceed with caution and we are trying to voice an opinion not meant to warrant action. This is solely meant to be viewed as a non actionable opinion not meant to be taken as seriously or as a form of actionable advice.