$NIO I am not long or short (except short some 60/65 call debit spread for the fun), but this now valued $48B; which is in range of VW or Audi. Or 5 times the market cap of Renault. Looks at how much those car manufacturer output vehicles a year vs NIO, which is not evening owning production assets but just delegating the manufacturing. Basically a design (although a good one) company. Good chance to seize a solid chunk of the Chinese market but highly challengea le outside of that by historical players. I would play with caution here.