anand_swamy

Nio, way overdone

Short
NYSE:NIO   NIO Inc.
Nio has been on a giant run these past few days, moving more than 20% up on many occasions. It is very overbought and has many gaps to fill. Options are very cheap and it has the potential to fall a lot.

Target 1 is $7.90
Target 2 is $6.50
Target 3 is $5.50

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