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Barchart
Barchart
Mohit Oberoi

Should You Buy Nio Stock on the Dip?

NIO Tesla Inc. ALPs China Li Auto XPENG Motors

NIO (NIO) stock has lost almost a third of its value from its August highs, and is now up only about 6% for the year – underperforming the broader equity markets, as well as electric vehicle (EV) peers like Tesla (TSLA), Xpeng Motors (XPEV), and Li Auto (LI).

Longer term, NIO has been sliding since its peak in early 2021, and fell sharply in both 2021 and 2022. Previously, it had rallied over 1,100% in 2020 as it proved critics wrong and not only survived a bankruptcy scare, but also looked set to embark on an ambitious growth plan.

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