Why One Fund Just Placed a New $142 Million Bet on NIO Stock

Hong Kong-based WT Asset Management disclosed a new position in NIO on Friday, acquiring approximately $142.1 million in shares, according to its latest SEC filing.According to an SEC filing released on Friday, WT Asset Management initiated a new position in NIO (NYSE:NIO), acquiring 18.7 million shares valued at $142.1 million as of September 30. This entry marks NIO as one of the fund’s largest equity positions at quarter-end, based on the reported holdings.This new position accounts for 6.6% of WT Asset Management’s reportable U.S. equity assets under management as of September 30.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool