BlackRock, world's biggest asset manager, increases its position in Nio by 15%
BlackRock, the world's largest asset manager, increased its holdings in Chinese electric carmaker Nio (NYSE: NIO) by 15.31% in the fourth quarter of 2020, the latest filing showed.
According to a 13F-HR form on the US Securities and Exchange Commission (SEC) website dated February 5, BlackRock owns 61,499,542 shares of Nio with total holdings valued at $2,997,487,000 as of December 31, 2020.
This represents a change in shares of 15.31 percent and a change in the value of 164.86 percent during the fourth quarter, noted a brief report on fintel.io.
BlackRock filed its previous 13F-HR on November 6, 2020, disclosing 53,333,635 shares of Nio at a value of $1,131,740,000.
Nio shares rose 156% in the fourth quarter, peaking at $57.20. The stock was traded at $56.67 as of the market close on Friday.
Nio was listed on the New York Stock Exchange in 2018 and William Li, founder, chairman, and CEO of Nio felt that the IPO was not a success.
He revealed in "Meet The Big Names" that Nio planned to raise $2 billion, but only ended up with $1.1 billion. The planned fundraising should be enough for Nio to "burn" for two years, but in reality, it was only enough for one year.
What made Li feel even worse was that on a public occasion, an American hedge fund investor openly said, "You are all liars.
Nio delivered 7,225 vehicles in January, up 352.1% year-on-year and setting a new monthly record. This number is 3 percent higher than in December.
The deliveries consisted of 1,660 ES8s, a 6-seater, and 7-seater flagship premium smart electric SUV, 2,720 ES6s, a 5-seater high-performance premium smart electric SUV, and 2,845 EC6s, a 5-seater premium electric coupe SUV.
As of January 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 82,866 vehicles.
Nio defies Tesla Model Y price cuts in China and delivers record 7,225 units in Jan-cnEVpost
The delivery volume for Nio is unexpectedly high, as January is considered to be the month where it will be hit the hardest by the dramatic price reductions of the China-made Tesla Model Y.