The BHP Group Ltd (ASX: BHP) share price is heading higher in early trade, up 1.76% to $40.41.

This comes as the S&P/ASX 200 Index (ASX: XJO) mining giant moves forward with plans to unify its 2 companies into a single listing on the Aussie exchange.

BHP share price lifts on unification plans

The BHP share price is on the rise after the miner’s board of directors said it is moving forward with unifying the company’s corporate structure under its existing Australian parent company, BHP Group Limited.

As you may be aware, BHP has been operating under what’s known as a dual-listed company (DLC) corporate structure. The DLC came into being when BHP and Billiton merged in 2001.

This formed 2 parent companies, BHP Group Limited in Australia trading on the ASX and BHP Group Plc in the United Kingdom trading on the London Stock Exchange. Both companies operate under the same board of directors and management. Their shares carry the same voting and economic rights.

BHP first reported its intent to unify its corporate structure back on 17 August. The BHP share price has dropped by 21% since then.

In a release this morning, the board said it “believes unification is in the best interests of BHP shareholders”.

The company plans to publish a Shareholder Circular and a Prospectus with additional information next Wednesday 8 December.

Subject to shareholder and certain regulatory approvals, BHP expects to complete the unification by 31 January 2021.

What did management say?

Commenting on the unification, BHP’s chair, Ken MacKenzie said:

BHP is in great shape and now is the right time to make strategic, transformative changes for the future. Unification will create one parent company, one share register and one share price globally. We believe this is the best structure for BHP to provide the resources the world needs and create long-term shareholder value.

BHP’s CEO, Mike Henry added:

A unified corporate structure will make BHP simpler and more agile, with the strategic flexibility required to shape our portfolio to deliver value through producing the commodities needed for continued economic growth, improved living standards, electrification and decarbonisation.

We will retain listings in the UK, US, South Africa and Australia, providing BHP with continued access to global markets and giving shareholders the opportunity to benefit from our portfolio, management and operating performance for long-term value.

BHP share price snapshot

The BHP share price has been under pressure amid declining the iron ore price, with shares down 6% year-to-date. That compares to a gain of 8% posted by the ASX 200.

Over the past month, BHP shares are up 12%.

The post BHP (ASX:BHP) share price lifts as single listing gets green light appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Morgans names 2 of the best ASX share ideas for December
• The Fortescue (ASX:FMG) share price hit by broker downgrade
• Why did the BHP (ASX:BHP) share price move up by 8% in November?
• These are the ASX 200 shares that fundies have been snapping up

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Owners of AMP Ltd (ASX: AMP) shares rejoice – this fundie thinks the company’s future is bright.

Regal Funds Management chief investment officer Philip King is reportedly bullish on the stock, which hit an all-time low of 88.5 cents in September.

In fact, the firm has bought into the embattled financial services company.

At the time of writing, the AMP share price is 95.7 cents, 1.81% higher than its previous close.

Here’s why this expert thinks it could be a buy.

Are AMP shares about to have their heyday?

Regal has reportedly abandoned its short position in AMP and is betting on the company’s share price growth.

King told the Australian Financial Review the fund recently purchased the stock due to its confidence the company’s new leader can turn its tumble around.

The publication stated the fund shorted the company during its tough times.  

As many will remember, AMP was dragged through the mud during the Financial Services Royal Commission.

Additionally, it hit a bump in the road when the Australian Investments and Securities Commission (ASIC), hit the company with civil proceedings in May. ASIC alleged the company charged deceased customers fees for life insurance and financial advice.

Throughout the seemingly endless controversies between 2018 and today, the AMP share price has tumbled more than 80%, potentially earning short-sellers a tidy profit.

But King believes AMP’s grass is starting to look a little greener. The AFR quoted him as saying:

We were short for many, many years, and we think the new CEO is doing all the right things, and it’s the start of a turnaround story.

People think the situation is worse than it really is and we think they can retain a lot of their current investors, and there’s a very, very solid brand and business.

The company’s new CEO, Alexis George took the reins in August after a stint as deputy CEO of Australia and New Zealand Banking Group Ltd (ASX: ANZ).

As of 26 November, just 2.6% of AMP’s shares are in short positions. For context, 9.17% of the company’s stock was being shorted in August 2019 – its highest point of the last 3 years.

The post Are AMP (ASX:AMP) shares priced as though ‘the situation is worse than it is’? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell today
• These 3 ASX 200 shares are topping the volume charts on Thursday
• ASX shares to buy for the Omicron COVID outbreak
• Here are the 3 heaviest traded ASX 200 shares on Tuesday so far
• Why AMP, Collins Foods, Credit Corp, and Orocobre shares are charging higher

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Today, Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE), all top-10 cryptocurrencies by market capitalization, were singing the blues. These three top tokens had sunk 4.2%, 4.6%, and 3.1% over the past 24 hours at 11:30 a.m. ET.

Concerns that the new omicron coronavirus variant could slow capital flows into risk assets continues to be a key headwind crypto investors are focused on. Additionally, speculation that investors could choose to take gains this year, rather than wait for additional clarification on crypto taxation rules in 2022, appears to have some investors eager to take some profits earlier than usual.

So what

Crypto markets have tended to move in higher correlation to equity markets in recent days. Whether the similarity in momentum we’re seeing between crypto markets and higher-risk equities continues from here remains to be seen.

However, what’s clear is that a significant amount of leverage continues to exist in crypto markets. When risk-off sentiment takes hold, as it has in the wake of this recent variant discovery, leverage-driven wash-outs can drive significantly higher downside volatility in such asset classes.

Additionally, crypto investors and traders who have booked large gains this year may be enticed to take these gains now, rather than wait and see what next year brings. Uncertainty with respect to specifics on crypto taxation rates and on the ultimate take crypto investors will receive from their holdings has some considering trimming positions now.

Now what

With the crypto market now starting to resemble “hyper-growth equities on steroids,” the leverage-driven upside momentum we’ve seen earlier this year may revert to the downside. Right now, investors appear to be taking a broadly bearish, or at least risk-off, view of the markets. For crypto traders, this volatility may simply be too much to sit through right now.

For longer-term investors, perhaps the downside moves we’ve seen in Bitcoin, Ethereum, or even Dogecoin and other meme tokens present an intriguing entry point. Of course, questions as to when this slump will ultimately abate remain. Right now, it appears a wait-and-see approach is what the broader market favors. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Bitcoin, Ethereum, and Dogecoin are slumping today appeared first on The Motley Fool Australia.

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• Here’s what happened with Ethereum’s (CRYPTO:ETH) record breaking November
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• Australia’s first direct Bitcoin and Ethereum ETFs are launching

Chris MacDonald owns shares of Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Suncorp Group Ltd (ASX: SUN) share price is edging higher in early trade today after finishing Thursday less than 1% in the green. At the time of writing, shares are swapping hands for $10.77 apiece, up 0.28%.

The ASX bank’s shares have taken a backward step lately after coming off a high of $12.94 in September.

Despite these challenges, the team at JP Morgan is bullish on the direction of the Suncorp share price. The firm sees a considerable amount of upside left in the company for FY22.

What does JP Morgan think about Suncorp shares?

The firm notes that Suncorp appears to be in a “consolidation phase” where its FY22 margins are likely to benefit from factors such as “margin expansion in home personal lines; margin expansion in commercial lines; small benefits from perils allowances and expenses; and some margin degradation in CTP [compulsory third party insurance]”.

Aside from this, it reckons the bank is likely to benefit from industry-wide surges in commercial markets, and reduced motor incidents from COVID-19 lockdowns.

These factors are set to place Suncorp in a prime position to start delivering on margin performance and drive value for shareholders, JP Morgan says.

One other factor the firm covers is Suncorp’s liability adequacy test (LAT) which has improved by 81% to $33 million – a marked improvement on the $173 million deficiency at September 20.

From this result, JP Morgan reckons the trends in the LAT can give a leading indicator of underlying profit trends. “In a COVID environment”, the firm says, “assumptions around bounce-back can however influence how closely to watch these statistics”.

So what does it think of the Suncorp share price? With its analysis over Suncorp’s future growth trajectory, JP Morgan values the bank at $13.30 per share, representing around 23% upside potential at the time of writing.

However, this figure is also a discount to its discounted cash flow (DCF) valuation of $14.32. It applies this discount to reflect “adverse events such as heavy rains and flooding in NSW that pose some downside risk and may cause the market some concerns about SUN’s exposure”.

Given the spate of flooding events that have occurred these past few months in NSW and most recently in QLD, it stands to reason that JP Morgan’s risk-adjusted price target may be the suited option.

What are the risks?

No investment case is without its embedded risks. In light of this, JP Morgan notes Suncorp’s Australian personal lines business still faces challenges around achieving unit and price growth.

It also thinks the bank is “operating in a challenging and competitive environment that will place pressure on its elevated [net interest margin] NIM over the medium term”.

Moreover, JP Morgan is still of the view Suncorp’s medium-term insurance margin and bank cost-to-income targets remain ambitious.

Aside from this, the firm notes COVID-19 style risks that would impact the entire market and wider economy.

Suncorp share price snapshot

In the past 12 months, the Suncorp share price has climbed 7%. It is also up 10% this year to date.

However, it is down more than 4% in the past month and has also slipped almost 3% in the past week of trading.

The post JP Morgan is bullish on the Suncorp (ASX:SUN) share price. Here’s why appeared first on The Motley Fool Australia.

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• Suncorp (ASX:SUN) share price drops as insurance sale completes
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• Broker sees 14% upside for the Suncorp (ASX:SUN) share price
• ASX 200 (ASX:XJO) midday update: NAB hits 52-week high, CSL upgraded

The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Alcidion Group Ltd (ASX: ALC) share price is on course to end the week on a very positive note.

In morning trade, the healthcare technology company’s shares are up 11% to 35 cents.

Why is the Alcidion share price rocketing higher?

Investors have been bidding the Alcidion share price higher today after its consortium won a major contract.

According to the release, the consortium, which is led by Leidos Australia, has been awarded a contract to provide components of an enterprise Health IT Project for the Commonwealth of Australia.

Alcidion will provide the Longitudinal Health Record via its Miya Precision product. The Miya Precision platform will aggregate data from consortium partner solutions and other systems in the environment to establish a consolidated view of every participant health status and history.

The project commencement is planned for December 2021.

What’s the contract worth?

The release notes that the value of Alcidion’s contract is estimated to be $23.3 million over six years. This will cover implementation and a subscription to the Miya Precision platform.

However, further options to take up Miya Observations and Assessments and options to renew up to 15 years creates a possible total contract value (TCV) for the contract with Leidos of around $50 million.

Alcidion’s Managing Director and CEO, Kate Quirke, appeared pleased with the news.

She commented: “Alcidion looks forward to working with Leidos and our Consortium partners to deliver this significant project. The scale and scope are a validation of Miya Precision’s existing capability to provide this critically important longitudinal health record.”

The Alcidion share price has been a very strong performer this year. Following today’s gain, the company’s shares are now up an impressive 88% since the start of the year.

The post Why the Alcidion (ASX:ALC) share price is rocketing 11% higher appeared first on The Motley Fool Australia.

More reading

• 2 growing small cap ASX shares to watch
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alcidion Group Ltd. The Motley Fool Australia has recommended Alcidion Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Solana (CRYPTO: SOL) is among the few winners in the crypto market today, seeing gains of 5.1% over the past 24 hours, as of 2:30 p.m. ET. This top five cryptocurrency by market cap has seen continued buying, despite weakness in the broader crypto market today.

A range of negative catalysts, from the discovery of the omicron variant in the U.S. to Federal Reserve tapering, have resulted in decreased demand for risk assets. However, investors appear to be diverting their risk-on trades to cryptocurrency tokens with perceived quality, such as Solana.

So what

It appears the (arguably) subjective view of Solana’s quality among digital assets is rather widely held. News that the Grayscale Solana Trust had been launched this week has curried favor among retail and institutional investors alike. This trust is expected to accumulate SOL over time, allowing accredited investors to participate in this trust via private placements.

Additionally, it was revealed this week that leading venture capital firms would be putting $4.3 million into a Solana-based metaverse project. This project, code-named Solice, is expected to compete against leading metaverse crypto plays Decentraland and The Sandbox. 

Now what

The prospect of additional capital inflows into Solana appears to be enticing for investors. Grayscale’s move to officially add a Solana trust suggests that big money is looking to chase the returns of Solana, over higher-profile cryptocurrencies such as Bitcoin and Ethereum.

Additionally, the metaverse is a red-hot space right now. The fact that Solana’s blockchain is being utilized by developers for new metaverse projects is very bullish for the argument that Solana’s ecosystem is one of the fastest growing and most sought after right now. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Solana is up today amid a sea of red for major cryptos appeared first on The Motley Fool Australia.

More reading

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Chris MacDonald owns shares of Ethereum and Solana. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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There could be some cheap ASX share opportunities in December 2021 for investors to take advantage of.

These are businesses that brokers think look good value and have longer-term growth potential.

Here are two potential choices:

Bapcor Ltd (ASX: BAP)

At the time of time of writing, the Bapcor share price has fallen 17% from 22 November 2021.

Bapcor shares took a dive after it was announced that the long-serving managing director was going to leave the auto parts business.

There are some brokers that rate Bapcor as a buy, such as UBS with a price target of $8.50. The broker thinks that conditions remain positive for demand for car parts.

UBS believes that the Bapcor share price is valued at 16x FY23’s estimated earnings.

The ASX share has various plans to grow the business.

It wants to grow its network footprint, with both its physical store and online presence. That includes growing its store network from around 1,100 locations to 1,500 over the next five years. Geographic expansion in Asia is part of the plan.

Another area of planned growth is supplementing the brands sold by its businesses like Autobarn and Burson, with Bapcor’s own brand products which comes with higher profit margins. It wants to grow own brand sales from around 30% to 45% of sales.

Bapcor also wants to realise the benefits and efficiencies of the businesses, including investing in key systems, achieving even better purchasing terms and improving its logistics capability even further.

Management points out that more people are using their cars to holiday and that the average age of vehicles continues to rise, requiring more maintenance.

Nick Scali Limited (ASX: NCK)

Nick Scali is a leading furniture retailer in Australia and New Zealand.

According to Citi, the ASX share is trading at 16x FY23’s estimated earnings and rates it as a buy with a price target of $16.80.

Nick Scali says that its future growth will be primarily driven by the continuation of the new store rollout and increasing online penetration. It’s accelerating initiatives to capture these opportunities.

At the end of FY21, Nick Scali had 61 stores across ANZ, with a long-term target of 86 stores.

In terms of online, in FY21 it achieved online revenue of $15.3 million with earnings before interest and tax (EBIT) of $8.8 million. A lounge visualisation tool was launched in July 2021.

Citi is also very attracted to the potential with the recent acquisition of Plush-Think Sofas for an enterprise value of $103 million.

Nick Scali says that the two businesses have highly complementary product offerings and business models. It’s a “strong strategic fit expected to deliver material synergies to the combined business after a two-year integration period” according to Nick Scali.

Management say that there are opportunities for a new store rollout for both businesses.

Citi also expects that Nick Scali will pay a big dividend in the coming years. The ASX share could pay a grossed-up dividend yield of 6.7% in FY23 according to Citi.

The post 2 cheap ASX shares rated as buys by brokers in December 2021 appeared first on The Motley Fool Australia.

More reading

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• 2 ASX dividend shares expected to pay BIG income

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Bapcor. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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November was tough for S&P/ASX 200 Index (ASX: XJO) banks. Not one saw its share price increase over the course of the month.

In fact, the S&P/ASX 200 Banks Index fell a whopping 10.5% last month.

But these 3 managed to outperform the sector, recording less severe falls than some of their peers.

Let’s take a look at which ASX 200 banks earned their place on the podium for best November performance.

The 3 top performing banking giants of November

National Australia Bank Ltd (ASX: NAB) – down 4.91%

November was a good month for NAB, and its share price reacted in turn, beating the sector by 5.5%.

NAB released its full-year earnings in early November, helping to boost its stock to a new 52-week high over the coming days.

It reported a 76.8% surge in cash earnings over the 12 months ended 30 September. It also announced a final, fully franked dividend of 67 cents.

Just before the month’s end, the Australian Competition and Consumer Commission gave it the go-ahead to acquire Citigroup‘s Australian consumer business.

Having ended October trading at $28.71, the NAB share price was $27.30 at 30 November.

Australia and New Zealand Banking Group Ltd (ASX: ANZ) – down 5.12%

November was a quiet month for ANZ but its share price managed to keep its head above water.

Although, the ASX 200 bank saw itself technically booted out of the infamous, Big Four last month when the market capitalisation of Macquarie Group Ltd (ASX: MQG) overtook its own.

Luckily, as of the time of writing, it has regained its crown.

The ANZ share price finished October at $28.14 and ended November trading at $26.70.

Bendigo and Adelaide Bank Ltd (ASX: BEN) – down 7.35%

The Bendigo Bank share price earned its place on the podium for overachieving ASX 200 banking shares.

The big news out of the bank last month was its planned ‘digital transformation’.

It released a price sensitive presentation on the transformation on 26 November. Unfortunately, its share price slipped 0.9% that same day.

The transformation will see the bank creating digitised offerings for several of its services. It also includes the acquisition of fintech business, Ferocia, which was completed in August.

Ferocia, alongside the bank’s digital home loan platform, Tic:Toc will see Bendigo Bank offering home loans through its popular banking app, Up next year.

Having ended the previous month at $9.25, the Bendigo Bank share price was $8.57 at the final close of November.

The post Here are the 3 top-performing ASX 200 banks of November appeared first on The Motley Fool Australia.

More reading

• Why did the NAB (ASX:NAB) share price struggle in November?
• Here’s why ASX 200 banks are making news today
• ASX 200 (ASX:XJO) midday update: ANZ hit with class action, GUD sinks
• ANZ (ASX:ANZ) share price lower amid credit card class action
• What’s JP Morgan saying about ASX 200 bank shares?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bendigo and Adelaide Bank Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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One thing the Australian share market is not short of is resources shares. But which ones should you consider buying ahead of others?

Here are two ASX resources shares analysts rate highly right now:

Rio Tinto Limited (ASX: RIO)

Goldman Sachs is a bullish on this mining giant. This is due largely to its attractive valuation, production growth, its aluminium business, and strong free cash flow. The latter is expected to underpin a dividend yield in the region of ~13% in FY 2022.

The broker currently has a buy rating and $121.00 price target on its shares. This compares favourably to the latest Rio Tinto share price of $94.20.

In respect to its aluminium business, Goldman commented: “In addition to copper production growth, Rio has one of the highest margin, lowest carbon emission aluminium businesses in the world, with over 2.2Mt of Ali production powered by hydro, and we think ELYSIS inert anode technology could be worth billions of $.”

Woodside Petroleum Limited (ASX: WPL)

Over at Morgans, its analysts are bullish on this energy producer. The main reason for this is the company’s impending merger with the petroleum assets of BHP Group Ltd (ASX: BHP).

The broker thinks Woodside is getting a good deal and expects it to be transformative for the company.

As a result, its analysts have put an add rating and $29.95 price target on its shares. This is notably higher than the current Woodside share price of $21.10.

Morgans commented: “We believe WPL has benefited from being in the right place, at the right time. With: 1) BHP/WPL having an existing relationship, 2) BHP eager to boost its ESG profile, and 3) WPL being a quality operator (safe hands which is important for BHP). From an economic standpoint we think WPL is clearly getting the better of the deal, with synergies not baked into deal metrics and BHP willing to accept a discount. The deal is transformative, lifting WPL into being a top 10 global E&P with +2 billion barrels of 2P reserves, with EBITDA of US$4.7bnpa and growth options.”

The post Analysts say these are the ASX resources shares to buy now for big returns appeared first on The Motley Fool Australia.

More reading

• Did the Rio Tinto (ASX:RIO) share price start a recovery in November 2021?
• 5 things to watch on the ASX 200 on Friday
• 2 more of Morgans’ best ASX share ideas for December
• The Fortescue (ASX:FMG) share price hit by broker downgrade
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Shares of Chinese electric-vehicle (EV) maker Nio (NYSE: NIO) were trading lower on Thursday, on rising COVID-19 concerns a day after it announced its best monthly sales result to date.

As of 11 a.m. ET today, Nio’s American depositary shares were down about 2.4% from Wednesday’s closing price.

So what

As is true elsewhere in the world, the emergence of the new omicron variant has rekindled concerns about potential business disruptions in China. Those concerns were hitting the EV segment on Thursday; Nio’s was just one of many EV-related stocks trading lower in the session. 

For the moment at least, the company is doing well. Nio said yesterday that it delivered 10,878 vehicles in November, its best monthly total to date and more than double its year-ago result. It was only the second time that its monthly delivery total had broken the important 10,000 mark, and it’s a sign that Nio (at least for the moment) has its supply chain issues under control.

Now what

Should the automaker’s investors be worried about omicron? Nio thinks not, or at least not yet. The company issued a statement on Wednesday reassuring fans and investors that its annual Nio Day is on track to happen on Dec. 18 as scheduled.

The company generally uses its annual Nio Day gatherings to showcase upcoming new products and technologies. Analysts expect this year’s event to feature two upcoming new models, including an electric sedan that may be called the ET5. Both of the new models are believed to be on track to launch later in 2022.

Those models will follow the launch of the company’s new flagship, the sleek ET7 sedan. Nio is expected to begin shipping the ET7 in early 2022. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Nio stock is trading lower today appeared first on The Motley Fool Australia.

More reading

• Could Rivian, Lucid, or Nio become the next Tesla?

John Rosevear has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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