China stocks skyrocket as Hong Kong relaxes some COVID curbs
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Renaissance cuts position on NIO (NIO); doubles down on XPeng (XPEV) and Li Auto (LI)
November 15, 2022 11:00 AM ESTRenaissance Technologies LLC, a prominent hedge fund, has cut its position in the Chinese electric vehicle company Nio (NYSE: NIO) during the 3Q, while doubling its bet on XPeng Motors (NYSE: XPEV) and Li Auto (NASDAQ: LI).
Renaissance held 12,681,700 US-traded ADRs of NIO at the... More
NIO (NIO) losses expected to widen on low profitability - China Renaissance
November 14, 2022 12:11 PM ESTNIO Inc. (NYSE: NIO) was cut to Hold from Buy, with its price target lowered to $12.30 per share by China Renaissance analyst Yiming Wang in a note Monday.
Wang told investors that NIO's net loss widened on lower GPM and higher expense ratios in the third quarter.
"NIO's 3Q22 revenue rose 32.6% YoY/ 26.3% QoQ to... More
