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    Home Unlabelled Stock Market - Wall Street Week Ahead for the trading week beginning August 24th, 2020

    Stock Market - Wall Street Week Ahead for the trading week beginning August 24th, 2020

    August 21, 2020

    Stock Market - Wall Street Week Ahead for the trading week beginning August 24th, 2020

    Wall Street Week Ahead for the trading week beginning August 24th, 2020

    Posted: 21 Aug 2020 02:14 PM PDT

    Good Friday evening to all of you here on r/StockMarket. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week ahead.

    Here is everything you need to know to get you ready for the trading week beginning August 24th, 2020.

    Markets look to the Fed again to build on S&P 500 record as Congress continues to disappoint - (Source)

    Market pros hold out little hope that Congress will agree to a stimulus package before September, but they will look to Jerome Powell in the coming week to provide a roadmap for what else the Fed might do to help the economy.

    The Fed holds its annual Jackson Hole symposium starting Thursday, and it will conduct the Kansas City Fed-sponsored meeting virtually rather than against the backdrop of the Grand Tetons as it normally does at this time of year. The Fed chairman speaks Thursday morning on the implications for monetary policy and the Fed's anticipated policy framework review.

    The past week was a big week for markets, with the S&P 500 finally recovering its losses from the pandemic selloff and setting new all-time highs. Stocks have been big beneficiaries of the Fed's easy policies and low interest rates, and Fed officials are widely expected to sound dovish when they meet in the coming week.

    "I think we know the Fed's all in. If anything they want the mechanicals to work right," said Ed Keon, chief investment strategist at QMA. "The basic Fed policy is crystal clear. You're going to have low rates for the foreseeable future. They will do whatever it takes."

    But Fed watchers expect Powell to go further than the Fed's already extraordinary support for the economy and financial conditions, and offer guidance on new language and policies that will help the markets understand how long it might hold those low rates and extraordinary policies in place.

    For instance, the Fed was expected to provide a more explicit forward guidance policy, and it could also introduce inflation averaging, meaning the Fed could specify that it could both undershoot and overshoot its 2% inflation target. Inflation has only occasionally surpassed its target over the past dozen years, since the financial crisis.

    Michael Gapen, chief U.S. economist at Barclays, said he expects the Fed will introduce forward guidance and average inflation targeting at its September meeting. He expects the Fed's policy review to examine all of its policies to determine which work best in different circumstances.

    Since the markets collapsed in February and March, the Fed has cut rates to zero and helped increase liquidity with different facilities for different areas of the capital markets like commercial paper, municipal bonds and corporate bonds. It also created lending programs and continues to buy a large amount of Treasury securities and mortgages. Its balance sheet has now ballooned to $7 trillion.

    With average inflation targeting, the Fed would allow the economy and inflation to run hotter than target, without immediately taking steps to tighten policy, according to Jim Caron, fixed income portfolio manger with Morgan Stanley Investment Management.

    "What they're saying is if the economy starts to recover, let's say we get a vaccine, or the rate of infection goes down, and the equity market is on a tear, they're not going to stop it," said Caron. "They're going to stay there for awhile. That's what they're trying to communicate."

    Where's the stimulus?

    As markets await clarity from the Fed, market pros are expecting less from Congress after first initially anticipating a stimulus package by early August.

    "At this point, the thing I'm most thinking about is are we going to get a stimulus deal or not," said Keon. "I think the politics are shifting beneath that." He said some Republicans in Congress may be less inclined to spend on a big package ahead of the election.

    Democrats and Republicans have been far apart in terms of the contents of the package. One hot button issue is the $600 supplemental weekly aid for the unemployed. It expired on July 31, and Republicans want to cut it to $200 a week while Democrats want to keep current levels. The White House meanwhile has moved to provide $300 a week in aid from FEMA funds but the states have to process those payments.

    The two parties are also still far apart on the size of the package, after initially starting out with Democrats at $3 trillion and Republicans with $1 trillion.

    "Some folks are discovering their inner budget hawks. It looks like the positions of the two sides are moving further away rather than closer together," said Keon. "As the election moves up on us, the possibilities of a deal are going down...the markets are slowly moving toward the idea we don't get stimulus deal and we might get a Biden presidency. It's not panicking about it."

    The Democratic party held its convention this past week, formally nominating former vice president Joseph Biden to head the Democratic ticket. The Republican convention begins Monday. Biden leads President Donald Trump by an average 7.4 percentage points in the major polls, according to RealClearPolitics.com.

    Michael Schumacher, director rate strategy at Wells Fargo, said he too is becoming more skeptical a stimulus deal will get done. "As the election season gets going, it appears to be getting harder and harder, not from a timing standpoint but from a lack of goodwill standpoint," he said.

    Strategists said if the economic data weakens, that could hurt stocks and get Congress back to negotiating a new package. There had been expectations a package would include a one-time payment for individuals and families, enhanced unemployment payments and aid for state and local governments.

    Raymond James Washington policy analyst Ed Mills said the two sides are likely to come together, but without a catalyst forcing them it may wait until they need to pass a continuing resolution on the budget Sept. 30. "Democrats are not going to allow for an appropriations bill to pass that does not include additional support for the economy," said Mills.

    It's the economy

    There is some key data in the week ahead that should show how manufacturing and the consumer are faring.

    Durable good is reported Wednesday, while personal income and spending data is reported Friday. Consumer confidence is Tuesday and consumer sentiment is released Friday.

    Energy markets will be keeping a close eye on two tropical storms that are heading into the Gulf of Mexico and could make landfall early Wednesday. One storm, Laura is tracking close to Florida, and a second storm, possibly to be named Marco looks to be heading across the Yucatan Peninsula before entering the Gulf.

    It would be unprecedented in the era of satellites and modern hurricane tracking technology for two storms to arrive within 24 hours. The Weather Channel reports there was such an occurrence in September, 1933.

    This past week saw the following moves in the S&P:

    (CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

    Major Indices for this past week:

    (CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

    Major Futures Markets as of Friday's close:

    (CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

    Economic Calendar for the Week Ahead:

    (CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

    Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

    (CLICK HERE FOR THE CHART!)

    S&P Sectors for the Past Week:

    (CLICK HERE FOR THE CHART!)

    Major Indices Pullback/Correction Levels as of Friday's close:

    (CLICK HERE FOR THE CHART!

    Major Indices Rally Levels as of Friday's close:

    (CLICK HERE FOR THE CHART!)

    Most Anticipated Earnings Releases for this week:

    ([CLICK HERE FOR THE CHART!]())

    (T.B.A. THIS WEEKEND)

    Here are the upcoming IPO's for this week:

    (CLICK HERE FOR THE CHART!)

    Friday's Stock Analyst Upgrades & Downgrades:

    (CLICK HERE FOR THE CHART LINK #1!)
    (CLICK HERE FOR THE CHART LINK #2!)

    September Almanac: Only Modest Improvement in Election Years

    Start of business year, end of summer vacations, and back to school made September a leading barometer month in first 60 years of 20th century, now portfolio managers back after Labor Day tend to clean house Since 1950, September is the worst performing month of the year for DJIA, S&P 500, NASDAQ (since 1971) and Russell 1000 (since 1979). Sizable gains in September 2009, 2010, 2012, 2013 and 2017 have lifted Russell 2000 to second worst (since 1979). September was creamed four years straight from 1999-2002 after four solid years from 1995-1998 during the dot.com bubble buildup.

    (CLICK HERE FOR THE CHART!)

    Bullish election-year forces do little to improve on September's poor overall performance over the same time frame. September's performance does improve slightly in election years, but it is still negative nearly across the board. Only the Russell 1000 and Russell 2000 have been able to escape negative territory and post modest 0.2% and 0.8% average gains respectively in the last ten election year Septembers.

    5 Charts To See With Stocks At New Highs

    "Better late than never."

    It took a while, but the S&P 500 Index finally made a new all-time high, coming all the way back from the vicious 34% bear market in less than six months.

    (CLICK HERE FOR THE CHART!)

    It might bring back some scary memories, but back in March it took the S&P 500 only 16 days to go from new highs to a bear market (down 20%), the fastest ever.

    (CLICK HERE FOR THE CHART!)

    "This will go down as the fastest bear market ever, but also one of the fastest recoveries ever," explained LPL Financial Chief Market Strategist Ryan Detrick. "Then again, we've never quite seen a recession and recovery like this, so maybe it isn't a shock to see new highs this quickly."

    The bear officially lasted one month and took five months to recover the losses. Usually when there's a bear market during a recession, it takes 30 months to recover those loses. This was the third-fastest ever, with only 3 months to recover from a bear market recession in the early '80s and 4 months to recover from a bear market in the early '90s.

    (CLICK HERE FOR THE CHART!)

    It seems like earlier this year and new highs were a lifetime ago, but the S&P 500 finally moved off unlucky 13, notching the 14th new high of 2020.

    (CLICK HERE FOR THE CHART!)

    As shown in the LPL Chart of the Day, returns after a long time without new highs actually get better. One, three, six, and 12 months after the first new high in more than five months show stronger performance than average or after any new highs. Yet another reason to think that this bull market from a long-term point of view could have some more tricks up its sleeve.

    (CLICK HERE FOR THE CHART!)

    Last, we found there were four other times the S&P 500 made a new high during a recession: In February '61, July '80, November '82, and March '91. Incredibly, a new expansion started the following month every single time. Could stocks at new highs be signaling an end to this recession? We think that very well could be the case again this time.

    Largest S&P 500 Stocks + Tesla (TSLA)

    Tesla (TSLA) is now up 50% over the last 10 calendar days dating back to August 11th. This has propelled the company way up the list of the largest US companies.

    Below is a table of the largest stocks in the S&P 500 with Tesla (TSLA) included. As shown, Tesla's $382.7 billion market cap would rank it as the 9th largest stock in the S&P 500 were it in the index.

    On August 11th, Tesla's market cap was just $256 billion, so over the last ten days it has leapfrogged companies like Walmart (WMT), Home Depot (HD), JP Morgan (JPM), Procter & Gamble (PG), Mastercard (MA), and NVIDIA (NVDA). Next up would be Visa (V) and Johnson & Johnson (JNJ), which have market caps just under $400 billion. Click here to view Bespoke's premium membership options for our best research available.

    (CLICK HERE FOR THE CHART!)

    B.I.G. Tips - Earnings Season and Top Triple Plays

    Walmart (WMT) wrapped up the Q2 2020 earnings reporting period on Tuesday with a huge beat on both the top and bottom line. It was a fitting end to what turned out to be a record-setting earnings season.

    As we highlighted in our Q2 Earnings Season preview in early July, analysts were rapidly increasing earnings estimates leading up to earnings season. Normally when that happens, stocks have trouble performing well during earnings season because the expectations bar has been set higher. This season, even with analyst estimates on the rise in the four weeks leading up to the start of the reporting period, companies managed to beat bottom-line EPS estimates at the highest rate in the history of our database going back to 1999.

    As shown below, 76% of companies reported stronger-than-expected EPS numbers this season, which eclipsed the prior record high of 73% seen during the Q3 2006 reporting period.

    (CLICK HERE FOR THE CHART!)

    Long-term Bespoke subscribers know how much we like earnings triple plays, but for those that haven't heard of the term, we came up with it back in the mid-2000s. An earnings triple play is a company that beats EPS estimates, beats revenue estimates, and raises forward guidance all in the same quarterly earnings report. Investopedia.com is one of the best online resources for financial markets education, and they've actually given us credit for coining the "triple play" term on their website. We consider triple play stocks to be the cream of the crop of earnings season, and we are constantly finding new long-term buy opportunities from this basket of names each quarter.

    This earnings season there were a massive number of earnings triple plays. We went through the list of this season's triple plays to find the ones that have the most attractive set-ups heading into the earnings off-season.

    STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending August 21st, 2020

    (CLICK HERE FOR THE YOUTUBE VIDEO!)

    STOCK MARKET VIDEO: ShadowTrader Video Weekly 8.23.20

    ([CLICK HERE FOR THE YOUTUBE VIDEO!]())

    (VIDEO NOT YET POSTED!)

    Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-

    • T.B.A. THIS WEEKEND
    ([CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!]())

    (T.B.A. THIS WEEKEND)

    ([CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!]())

    (T.B.A. THIS WEEKEND)

    Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

    Monday 8.24.20 Before Market Open:

    (CLICK HERE FOR MONDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

    Monday 8.24.20 After Market Close:

    (CLICK HERE FOR MONDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

    Tuesday 8.25.20 Before Market Open:

    (CLICK HERE FOR TUESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

    Tuesday 8.25.20 After Market Close:

    (CLICK HERE FOR TUESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

    Wednesday 8.26.20 Before Market Open:

    (CLICK HERE FOR WEDNESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

    Wednesday 8.26.20 After Market Close:

    (CLICK HERE FOR WEDNESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

    Thursday 8.27.20 Before Market Open:

    (CLICK HERE FOR THURSDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

    Thursday 8.27.20 After Market Close:

    (CLICK HERE FOR THURSDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

    Friday 8.28.20 Before Market Open:

    (CLICK HERE FOR FRIDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

    Friday 8.28.20 After Market Close:

    ([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())

    (NONE)

    T.B.A. THIS WEEKEND

    T.B.A. THIS WEEKEND T.B.A. THIS WEEKEND.

    (CLICK HERE FOR THE CHART!)

    DISCUSS!

    What are you all watching for in this upcoming trading week?

    I hope you all have a wonderful weekend and a great trading week ahead r/StockMarket.

    submitted by /u/bigbear0083
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    Struggling retailers rush to file for bankruptcy as fears of a second wave of coronavirus linger

    Posted: 21 Aug 2020 06:10 AM PDT

    https://www.cnbc.com/2020/08/21/coronavirus-struggling-retailers-rush-to-file-for-bankruptcy-as-fear-of-a-second-wave-lingers.html

    Industry executives saw what happened to other retailers who filed for bankruptcy in the first few months of the coronavirus outbreak.

    They worry that could happen to them should a second wave of infections hit during the winter months as some medical experts have warned.

    Sporting goods chain Modell's filed for bankruptcy on March 11 — before the coronavirus put its liquidation plans on hold.

    submitted by /u/coolcomfort123
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    This market is not irrational, it is anti-rational.

    Posted: 21 Aug 2020 01:41 PM PDT

    At the beginning of August the market started rallying in anticipation of more stimulus. Every day, higher and higher and higher. Then, the talks fall apart and we dont get the stimulus! Should have been huge news that took the market back down to at least beginning of August levels. But nope, this retarded market wants to stay at all time highs instead.

    Tuesday, Walmart reminds us that the only reason they did so well is because of the stimulus and business has slowed since it ran out. This trend is likely true for the entire recovery. The market modestly punished wmt for a day but mostly brushes it off.

    Wednesday the Fed does not say anything supporting the yield control that these crazy bulls keep talking about, they also remind us that the economy is not good and we need stimulus. Futures look bad that night but by the next day the market only falls a little, like a percent, then goes right back up by end of day Friday. All of this on historically low volume.

    Apple, already at ATHs, up another 5+% today on nothing. TSLA has a P/E over 1000. Thats right over 1000! Say what you want about p/e not being important but when it gets to these levels it matters. Its like people expect teslas to be in everyones driveway within 5 years. Like gas cars will disappear and Toyota, GM, and VW are entirely are incapable of making an EV. It is retarded.

    Meanwhile, Footlocker has very impressive earnings, reinstates their dividend, and it goes up only 1 percent. How does that make any sense?

    How long can the idiots run this market? It has become spiteful to reality. Its just, take what makes sense and do the exact opposite. Seriously wtf is happening? Its not just the fed, there has to be some serious manipulation going on behind the scenes. If we're going to say its inflation, then why is gold continuing to fall? There is no consistency, no context, no sense to any of this. Dont tell me the market can stay irrational longer than you can stay solvent- that cliche does not explain this insanity. Its not irrational, it is anti-rational.

    submitted by /u/krazypills
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    What is your Biggest regret that haunts you til this day ?.....selling too early ? Holding too long ?

    Posted: 21 Aug 2020 06:13 AM PDT

    I was fortunate enough to get into crypto before it blew up 2017 .....I bought xrp ripple for .30 and held it all the way up to $3.50 and back down to .30 ....I was so salty that I started day trading and ended up losing $10k when I could of walked away with over $60k .....what are your stories ?

    submitted by /u/jamzkourt
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    What will stop the US from printing to fix anything and everything that goes wrong

    Posted: 21 Aug 2020 01:41 PM PDT

    Seriously I get that the FED had to take drastic steps to keep things from getting worse. However, what stops them from pulling this printing trick out every single time something goes bump. Next we have a huge storm print $4T, Debt Limit limit reached increase $5T... They can point to saving the economy and all the possibly lost jobs

    submitted by /u/AppleTree98
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    Should I consolidate ARK funds in Roth

    Posted: 21 Aug 2020 08:59 AM PDT

    Right now I have a portion of my Roth allotted for higher growth. I have the vast majority in VTI and VXUS. Right now I have the portion of higher growth as roughly QQQ 40% ARKK 30% ARKW 10% ARKF 10% ARKG 10%

    I was wondering if I should keep it or sell the ARK W, F, G and buy ARKK and QQQ. It would be 50% of each. The VTI and VXUS will remain untouched

    submitted by /u/Shulz87
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    Amateur Investor Help

    Posted: 21 Aug 2020 01:45 PM PDT

    Long time lurker, first time poster. I have about 5-10k to invest long term. Is now a good time or should I wait for the next market correction? I am very patient and would like to read different opinions.

    submitted by /u/AnotherThrowaway5674
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    Trade Republic vs Trading 212: Which one should I go for?

    Posted: 21 Aug 2020 03:18 PM PDT

    So, I wanted to start investing my money and I saw that stock market is a good way to start. Due to me being in a small country from Europe where many brokerages are not available, I found that these two were my best choices (they're also convenient because of the mobile trading apps - simillar to Robinhood or Webull). I was planing on buying stocks and holding them (if that's the right term, I'm new to this...). Now, on Trade Republic's website, I noticed that there is a both a free of charge commission and a 1€ fee for something that I didn't quite understand. Trading 212 is, if I understood correctly, completly free of charge (right?). I need your opinion, because you probably know more things that I do (I'm completly new so...).

    submitted by /u/NicksterTV
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    Interested in stocks and passive income [newbie]

    Posted: 21 Aug 2020 09:16 AM PDT

    I am 13 and I am interested in investing in stocks and earning some of my first passive cash. I have no prior knowledge and want to learn some basic theory and most importantly practical, actionable steps in investing. I saw my 22 year old cousin learning about stocks and investing, and found it quite amusing. I am interested in the business world and want to become financially independent as soon as possible. I have read a book on finance, Rich dad, Poor dad, and have found lots of inspiration in starting my own business and profiting of passive income like stock.

    submitted by /u/haridelic
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    Should I sell my Tesla stock?

    Posted: 21 Aug 2020 06:05 AM PDT

    I bought some Tesla stock a couple of weeks ago, and am currently up 43% on it. Should I sell now? The growth of the stock seems too good to be true, is it going to crash?

    submitted by /u/tripler42
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    Amateur confusion

    Posted: 21 Aug 2020 10:28 AM PDT

    I requested to allow margin trading on my TD Ameritrade account and now I am able to trade on margin. Although I have no plans whatsoever to trade on margin, it appears that is the only way it is allowing me to trade. I have $200+ in total cash in my account but it says my margin balance is -$54.38. I requested to have margin trading removed from my account but I am worried about the balance. What should I do to fix it?

    submitted by /u/PimpDaddyDwarf
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    Tesla question

    Posted: 21 Aug 2020 06:29 AM PDT

    I have 0.03 shares in Tesla (I know, not a lot) but was planning on throwing in money here and there whenever I felt like it. I use Trading212 so I'm curious as to when Tesla splits, will it sell my shares or will it split it considering I don't have a full one?

    submitted by /u/godofboy
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    Should I Stay or Should I Go

    Posted: 21 Aug 2020 05:51 AM PDT

    Hi all,

    Been waiting to start investing and this whole "economy is about to crash" thing has got me wondering....

    Should I Stay? and buy in now.

    Or

    Should I go? Everything is going to be on discount in a few months.

    submitted by /u/JDIRECTORJ
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    Calculating Monthly Compounding Growth?

    Posted: 21 Aug 2020 05:45 AM PDT

    How would I calculate compound monthly growth if I want to include additional bi-weekly contributions? For example, how would I calculate monthly growth on $15000 for three years if I had a monthly growth of 3% and bi-weekly contributions of $200?

    submitted by /u/LouDrahh
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    Undervalued sector plays and time lines?

    Posted: 21 Aug 2020 05:35 AM PDT

    Recently been enjoying the Canadian market with the REITS like TSE: REI.UN (RioCan Real Estate Investment Trust) because long term it has a good pay off, a pretty steady pattern last few months and a nice dividend to top it off.

    Also canadian energy has had a lot of volume around baytex but I have been playing Suncor and at the moment it's a damn attractive buy in and you get the security of the infrastructure.

    What other picks have you guys been looking at in the undervalued sectors or reits and energy or maybe some good sectors and picks outside that you are looking at since the tech rally has been so insane.

    submitted by /u/Godkingcoconut
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    Netflix stock value question

    Posted: 21 Aug 2020 05:08 AM PDT

    I'm not an investor, but when controversies happen i tend to look at the stock market and usually there's a visible difference. Now, due to the recent controversial Netflix movie, i checked out Netflix's stock value and it looks indifferent. Can anyone with experience explain to me why such a controversy doesn't affect the stock value? Thanks!

    submitted by /u/propagandalfur
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    Apple vs Tesla - final showdown.

    Posted: 21 Aug 2020 08:06 AM PDT

    OK, I know that this has been overly discussed and I'm coming egregiously late to the table. But I would love the opinions of my more seasoned stock traders as I am still incredibly new to this.

    As we all know Apple and Tesla are both going through a major stock split. I'm wondering if at this point it would be worth investing in either prior to either split or immediately after, or if they're just simply overvalued and I should look elsewhere.

    I apologize in advance for my ignorance. I am trying to learn, and at the same time help better secure my future.

    Thank you all for your advice.

    submitted by /u/Wonder-Breaddit
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    Should I get into Apple now?

    Posted: 21 Aug 2020 01:46 AM PDT

    Just as the title says, should I invest in apple right now (quite a big amount). Will the stock price keep growing or is this spike just a hype? Thank you for your opinions in advance!

    submitted by /u/Crazy_Gam3r
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    Nio's New Service Slashes Electric Car Price Tag

    Posted: 20 Aug 2020 09:41 PM PDT

    Without owning the battery pack, the ES6 SUV costs roughly $39,500 vs. $49,631 with the pack. Battery subscribers would pay a separate monthly fee of $142 for the battery pack. But that means after just six years, the amount paid in fees would exceed the initial savings at the time of purchase.

    The new battery-as-a-service (BaaS) program gives buyers the option to buy the car and subscribe separately to use the batteries, lowering the price tag. The typically higher costs of electric cars have weighed on global sales.

    The emerging Tesla rival has also set up a new battery company, Wuhan Weineng Battery Asset Company. It will purchase the batteries, then lease them to Nio subscribers.

    It allows Nio users to benefit from the lower initial purchase prices by approx. $10,000, flexible battery upgrade options.

    Nio has 143 battery swap stations across 64 cities in China. It said Thursday that it has completed over 800,000 battery swaps for Nio users.

    Nio is building a new battery-swap station every week and hopes to enter international markets next year, starting with Europe, according to Reuters.

    submitted by /u/Vast_Cricket
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