 This is a hit job. What's up, my name is Giggs, welcome to another video guys. So in today's video, we are going to talk about ticket symbol NIO. This is a company that I'm very bullish and I've done videos here on the channel recommending this particular stock from like $5 and now all the way to hitting high of about $54. But last Friday, they had a massive, massive pullback because one of the short sellers out there, Citroen Research, actually put a hit job on NIO and now people are starting to panic. So we're going to take a look at that, look at, hey, what is the next price target for this stock? And maybe if you usually start looking for a strategy to secure some of the profits that everybody's been making from NIO. But before we get started guys, if you're new to the channel, we talk about how to earn money. How to invest and build wealth. So if you have something that interests you, go ahead and hit that subscribe button and any notification bell so you don't miss out on new content. So if you have been following this stock again, like I said, I've done a ton of videos here on the channel. If you've been following this stock, you see that last Friday NIO actually took a massive beating in the market. So in what that did to the stock is it went from a high of about $54 and pulled back all the way to like $42. And the reason for that, again, like I said, if you can see here in the news, notice short selling company actually went out, they put a hit job on NIO and the stock just pulled back. If you see right here, this is a company that had, I mean Citroen actually recommended NIO two years ago as a huge buy and they had a price target about $25 and he had since exceeded that price target all the way to $54 and I think they were looking at it as like, it's time for us to take some profit. And so they put out this hit job. I personally, I mean, I wasn't a fan of when I saw this message because all these particular news because I knew what that meant for the stock. I mean, I didn't like seeing the stock taking a beating like that, but I'm still bullish on NIO. So this is not going to change my view on the stock. Again, you see every time there is that massive climb, you would see some of the short sellers are going to come in and do a hit job so they can make some profit too because it nearly just been going up and up and up. I thought it was about time they take a beating. And again, if you remember, I think two months ago, when Nikolaj ticker symbol NKLA also took a beating because of a short selling company, Henningberg's research did a hit job on them too. And that Nikolaj took a massive beating. So again, you see the stocks go up and down, short sellers are coming with their research and do it. So as of the time I'm doing this video right now, NIO is somewhere at about 44.6 from a high of $54 and some change. So again, if you didn't have the stock, I think this would be a good entry point for you to kind of go in there and start because if you look at everything about NIO, they have been doing pretty good. Actually, last month, they actually exceeded 5,000 cars per month living their production line, which was a new record for them. And then the earnings report is coming out tomorrow after hours, I think. So you want to go in there and take a look and see. Earnings reports are going to be good, again, based on the fact that even during COVID, they have been doing really good, producing 5,000 cars, like I said, last month. And so sales are probably going to look excellent. But again, you still have to watch out. So I'm anticipating that tomorrow after their earnings report, which is going to be excellent, people are probably going to jump back in and the stock is going to get back on track, it's like moving up in. So you should, again, do your own research before you jump right in. So this is again, this is just kind of some news asking like after that hit job on them, do you think their earnings report is going to help them? Well, we'll see after hours tomorrow because nobody really knows. Because you've seen companies like Tesla, they'll come out with excellent earnings report, then you see the stock pulling back for no reason whatsoever. So it's the market, it's really, really tricky. For NIO, if you are but NIO a while back, so you're sitting on some profit. I want you to have a strategy here to secure some of that profit. So you can start looking at, hey, maybe secure some of that profit by putting stop losses along the way. Or if you're like me, where I try to take out my initial investment and only play with house money. I don't hold a stock. If I go in $1,000 and it doubles, I take $1,000 out. I know some people don't agree with that strategy. But it's my strategy that protects me. And so I take $1,000 out and then I use that $1,000 and invest it in something else as opposed to having all my chips in one basket. So again, it's profit. So I take $1,000, I go and invest it somewhere else and I'm just playing with house money. So that's my strategy. You figure out what works better for you and then you can kind of start putting together your own strategy to secure profit when something like this happened. Again, I am still bullish on NIO. This particular hit job from Citroen didn't really push me away from the stock. I still see the potential there because after COVID, after we get a vaccine, after the economy opens up, you're going to see China is going to start pushing NIO as your own Tesla. That's again, that's my view of it. That's the way I see it. They want competition. They don't just want everything to be dominated by the United States. So they're going to start exploring third world countries, no African market, no South American market, Asian market. They're going to push NIO in that space as the Tesla of China. So that is huge. Just within China alone, with over a billion people, you anticipate that if NIO only takes 10, 15, 20% of the market share for electric vehicles. I mean, you have Lee Otto and all the other guys that are in that same space. If they only take 10 to 20%, that is too massive in an economy where they have over a billion people. So again, Citroen here, and I want to highlight this for you guys so you see it. They have set the new price target of NIO down to 25. So these guys are probably going to be doing everything to try to pull that stock back to 25. That is 50% of the price of NIO. So make sure that you have a strategy to not give back all those profits and go all the way back to 50%. Secure some of those profits so that if the price even pulls back to 25, you buy more and continue to ride it. So that's what I'm going to do. I hope you guys have a strategy. So question of the day, what do you think about this? Do you think that this is just a no-brainer? I'm not selling anything. I'm sticking with the program. Or you think, man, I need to have an exit strategy so that when something like this happens, I don't lose all the gains that I have. Let me know in the comment section. If you have an exit strategy that's different from what I just said, I just explained here. Definitely go ahead and share that in the comment section so people can benefit from it. And as always, guys, remember to always do your homework, do your research, don't be a greedy savage, secure profit when you have to, and stay motivated.