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NIO – Up over 13% in the pre-market after announces RMB3.3 billion Investment in NIO China from Strategic Investors
ZCMD – Up over 90% in pre as risk-on China trade continues
TTEC – Up over 20% in pre after receiving unsolicited proposal from CEO to be taken private
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NIO – Up over 13% in the pre-market after announces RMB3.3 billion Investment in NIO China from Strategic Investors
NIO Inc. (NIO) designs, develops, manufactures, and sells smart electric vehicles in China.
Over the weekend, the company announced that it has entered into definitive agreements for investment in NIO Holding Co., Ltd., a PRC subsidiary in which it holds 92.1% controlling equity interest (“NIO China”), with Hefei Jianheng New Energy Automobile Investment Fund Partnership (Limited Partnership), Anhui Provincial Emerging Industry Investment Co., Ltd. and CS Capital Co., Ltd. (collectively, the “Strategic Investors”), pursuant to which the Strategic Investors will invest an aggregate of RMB3.3 billion in cash to subscribe for newly issued shares of NIO China.
Concurrently, NIO will invest an aggregate of RMB10 billion in cash to subscribe for newly issued shares of NIO China.
Upon completion of the Investment Transaction, NIO will hold 88.3% of controlling equity interest in NIO China, while the Strategic Investors together with the other existing shareholders will collectively hold the remaining 11.7% of equity interest in NIO China.
The stock traded up over 12% in the pre-market in reaction to the news and overall strength in the Chinese stock market overnight.
The first target for bulls is the pre-market high at $7.50.
Beyond that $8, $8.50, $9 and $9.50 come into play.
Below $7.50, targets to the downside are $7.25, $7 and then a gap fill at $6.52.
ZCMD – Up over 90% in pre as risk-on China trade continues
Zhongchao Inc. (ZCMD) provides healthcare information, education, and training services in the People’s Republic of China. The company offers patient management services in the tumor and rare diseases field; internet healthcare services, and pharmaceutical services, as well as operates an online information platform.
Overnight, Chinese stocks had another big day. Last week, Increased stimulus plans from the Chinese government has sent large cap names such as BABA and PDD soaring, with Chinese stocks having their best week since 2008. China’s central bank on Friday lowered interest rates and injected liquidity into the banking system.
Small cap China stocks are following suit again this morning, with stocks such as ZCMD, KXIN, DUO, GSIW up big.
ZCMD is up over 90% in the pre-market in reaction to the strong day over in China.
The first target for bulls is the pre-market high at $2.69.
Beyond that $3, $3.50 and $4 come into play.
Below $2.69, targets to the downside are $2.40, $2.20, $2, $1.70 and then a gap fill at $1.35.
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TTEC – Up over 20% in pre after receiving unsolicited proposal from CEO to be taken private
TTEC Holdings Inc. (TTEC) operates as a customer experience (CX) company that designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels. The TTEC Digital segment provides CX technologies for contact center as a service, customer relationship management, and artificial intelligence (AI) and analytics; creates and implements strategic CX transformation roadmaps.
In the pre-market this morning, the company announced that its Board of Directors has received an unsolicited, preliminary, non-binding proposal letter, dated September 27, 2024, from TTEC founder, Chairman and Chief Executive Officer Kenneth Tuchman, to take the Company private at a proposed purchase price of $6.85 per share to the Company’s other shareholders.
Mr. Tuchman beneficially owns approximately 58% of the Company’s common stock.
The stock traded up over 58% in the pre-market in reaction to the news.
The first target for bulls is the pre-market high at $5.91.
Beyond that, $6.20, $6.60 and $7 come into play.
Below $5.91, targets to the downside are $5.20, $5, $4.80, $4.60 and then a gap fill at $4.05.
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