A Wall Street Analyst Thinks Nio Stock Is Going to $3.90. Is It a Sell?

The global electric vehicle (EV) market is becoming crowded, and Chinese EV makers are among the big reasons. While not yet profitable, Nio (NIO 1.62%) is one of those China-based companies ramping up production and exporting more and more of its high-tech EVs to Europe and elsewhere. Nio delivered a record 61,855 units in the third quarter and estimates it will have as many as 75,000 EV deliveries in the fourth quarter. But the stock has dropped by over 50% in 2024, and one Wall Street analyst thinks inves ...