Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for Nio Inc. > News item |
Morning Commentary: Convertibles trading volume light; Nio gains continue
By Abigail W. Adams
Portland, Me., July 5 – The convertible secondary space started Friday with a crawl with many still celebrating the Independence Day holiday.
Trading volume was the lightest it had been all week with $25 million on the tape a little over one hour into Friday’s session.
Nio Inc.’s 4.5% convertible notes due 2024 were among the most actively traded issues early in the session with the notes posting gains as the company’s equity continued its upward momentum.
The 4.5% notes gained about 3 points outright. They were changing hands at 55 early in Friday’s session, according to a market source.
The notes saw about $3 million in reported volume about one hour into the session.
Nio’s American Depositary Shares were changing hands at $3.22, an increase of 2.87%, shortly before 11 a.m. ET.
The notes have been active and posting gains on an outright basis throughout the week as the company’s equity has been on the rise.
They traded down to an all-time low of 48.75 on June 28. However, the company’s equity and convertible notes were lifted in the wake of the G-20 summit.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.