NIO Stock on Sale After 50% YTD Plunge: Should You Buy Now?
NIONIO(NIO) ZACKS·2024-07-24 23:20

The electric vehicle (EV) sector is currently experiencing a rough ride, with NIO Inc. (NIO) emerging as a notable casualty. China-based EV maker NIO has been in the red territory for a while now. Year to date, shares of the company have plummeted 50.6%, underperforming the industry as well as its key rivals like Li Auto (LI) and XPeng (XPEV) . As NIO currently hovers around 72% below its 52-week high, should investors consider this a buying opportunity?YTD Price PerformanceImage Source: Zacks Investment Re ...