Can NIO Stock Beat the EV Slowdown Blues and Rise to $10?

While the performance of electric vehicle (EV) stocks, especially Chinese EV stocks, has been disappointing, NIO (NIO) is one specific name that hasn’t lived up to the hype it once generated.

NIO overcame a near-bankruptcy scare and became a $100 billion market cap behemoth in early 2021. But for investors, that was the end of good news. After rallying over 12-fold in 2020, NIO has closed in the red every year since. It is now down almost 51% in 2024, and has had a terrible first half so far.