Kristina Hooper: What to watch as 2020 comes to an end LinkedIn 12/14/2020
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This is the last blog of the year for me. And what a year it has been one full of loss. Loss of people, first and foremost, and also of businesses. It was just reported the other day that New York icon The 21 Club will be closing for good, the latest of many service-related businesses to sadly fall victim to the pandemic. I think we are all eagerly waiting to close the books on 2020 and looking forward to brighter days in 2021. I want to thank the many health care workers and other frontline workers (including grocery store employees, emergency responders and teachers) who have risked their lives this year in the face of the pandemic. I think I speak for all of my Invesco colleagues in saying that I am in awe of you and all you have done this year.
China auto sales jump 12 6% YoY in November
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New energy vehicles drive China s auto industry growth
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Here’s a deeper look.
NIO Stock Has a Technical Floor at $40
It appears that NIO stock has established a strong technical floor around $40.
NIO stock briefly dropped below $40 in early December, before quickly recovering back above $40. The same thing happened again two weeks later. NIO stock dropped below $40. But only a for moment. Then quickly recovered to $40-plus prices.
In other words, recent trading action on NIO stock shows that there is ample demand to buy NIO stock below $40. I don’t expect that demand to waver anytime soon.
It also helps that NIO stock is offering 68 million American Depository Shares at $39 per share. That pricing further cements $40 at a floor for NIO stock. As does the fact that NIO stock’s 50-day moving average sits at $38.