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Written by: Chris Stanford
Publishing date: 7/1/2022
$NIO ACCUSED OF FRAUD
For those of you that have been following me for a while, you have probably seen me criticize the Electric Vehicle company Nio. January of 2021,I stated that they would be the next big Chinese company investigated for fraud. Recently, independent research firm grizzly research came out with a report with similar allegations. I was reluctant to talk about the details of my findings. Various short sellers I am associated with have been sued for publishing negative research in the past. You wouldn’t believe the lengths these companies go through to silence critics.
Ok so let’s dive deep into the major allegations about Nio in this report. Truthfully, I don’t think any of the companies shareholders have really taken the time to read this report. Either that, or they are just too stupid to really understand the gravity of the findings. The fact that the stock is only down a few percentage points says it all. 12 months prior to their report, I came to similar conclusions . Although they definitely uncovered things that I was unable to. They have a local team in China, so they are capable of gathering much more forensic data than myself. Before we get into the findings, I just want to make it clear that this might be difficult for a lot of you to follow. It’s confusing, and there is a lot of high level corporate engineering going on here. It takes a bit of experience to fully comprehend the shenanigans at play here. M y job is to try to break this down in a way that is more understandable. Your job is to put on your critical thinking cap and focus on each detail one thing at a time.
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