Latest stock buy 26 shares of NIO at $46.51 per share

Updated: 21 July, 2021 seen 41

On February 26, 2021, we bought an additional; 26 shares of NIO stock (NYSE:O ) paying $46,51 per share. 

Unlike most of the other stocks I buy, NIO is not a dividend stock, instead, I see NIO as a potential growth stock

NIO is a Chinese automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric vehicles. The company is also involved in the FIA Formula E Championship, the first single-seater, all-electric racing series

NIO stock forecast February 26, 2021

NIO stock forecast February 26, 2021

The 19 analysts offering 12-month price forecasts for NIO Inc have a median target of 68.72, with a high estimate of 100.20 and a low estimate of 14.91. The median estimate represents a +47.03% increase from the last price of 46.74.

To finance this purchase we spent one-fourth of our options income in the month of February

We now hold in total 41 shares of NIO

Using dollar-cost averaging our average cost per one NIO share is $50.41

Also, NIO takes 4.21% from our stock portfolio

If we had 100 shares of NIO today, we could sell March 5, 2021, covered call (weekly options) with a strike price of $51, to get a $1.96 premium. In case our shares would get called away on the expiry date we would realize $255 income in 7 days, that's a potential return of 5.05% since we started buying NIO.

It's planned to buy more NIO shares once a month until we will reach 100 shares. It looks like we might get there around June or July 2021.

59 shares to go!

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