Generally, all EV makers raise fund by issuing more shares (learning from Tesla!!!) Nio was aggressive in expanding the EVs into Europe market, developing new models and building more swap stations, obviously NIO needs more ammo to strengthen their balance sheets, Most importantly, we could see that the Chinese government is very supportive by allowing NIO to issue more share in US stock exchange, it thus gives a very good signal to buy the dip and hold until it reaches your targeted price!