Investors have been bearish about NIO Inc. (NIO) due to its declining market share, widening losses, and a sharp slowdown in deliveries. The stock is expected to plunge further as it grapples with headwinds, including still-high inflation, stiff competition in the EV space, and strict government regulations.
The EV stock has been on a downward trajectory so far this year and hit its 52-week low of $7 on June 1, 2023. Given its weak fundamentals and dim growth outlook, NIO is best avoided now. In this piece, I have discussed several reasons why investing in this auto stock could be extremely risky.
