MASSIVE NIO Stock Price Correction Incoming? | Exposing Citron Research

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NIO recently dropped 14% from trading highs of $54 dollars. This came as a surprise to NIO investors as the stock has been performing exceptionally well in recent weeks and looked to head towards $60 by the end of the year. What rocked the NIO share price was a research report from well known short sellers Citron Research that provided a very bearish stance on the future of NIO

I pick apart this research report finding all the whole and gaps in argument that NIO should drop to $25. Their main point is that NIO will face tougher competitive pressure from Tesla Model Y when it is released in 2021 which will have a price tag of $41k vs NIO competitor the ES6 with a Price of $52k. But Citron forgot to mention the price of an ES6 with Battery As A Service, lowering the ES6 model drastically

Citron made headlines when they famously made a short claim on Tesla stock in 2016, saying the stock is worth $100 ($20 in todays equivalent adjusting for the stock split), at the time Tesla was trading at $43 and never cam close to $20, now Tesla is $400+. Just shows you cannot put too much weight on Citrons report given how far off the mark for Tesla they were
My price target for NIO for this year remains comfortably between $50-$60
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