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Nio (NIO) investors are bound to be an unhappy lot as the stock has closed in the red for four consecutive years and trades at a fraction of its 2021 highs. Nio was once seen as a promising Chinese electric vehicle (EV) startup company, with some dubbing it the “Tesla of China.”
The company, however, failed to meet those expectations, and the price action is a testament to its weak operating and financial performance. While Chinese rivals, particularly Xpeng Motors (XPEV), raced ahead in monthly deliveries, NIO’s monthly deliveries have failed to move decisively higher.
