NIO: Now A Steal Below $5 (Upgrade)

Andy Feng NIO Inc. (NYSE:NIO) just made an announcement that said that the electric-vehicle company was curtailing its delivery forecast for 1Q-24 amid a soft demand environment in the company’s core market China. While slowing growth is obviously a big challenge for NIO, and an obstacle for price appreciation for NIO’s stock, I think that the electric-vehicle company unduly suffers from a painful change in sentiment towards EV businesses. NIO’s stock just made new lows, but the valuation is now at its  ...