NIO Stock Is the Canary in the EV Market Coal Mine

Nio (NYSE:NIO) stock reflects the falling prospects for high-end electric vehicles (EVs).During the last decade, the Chinese company was pitched as a direct competitor to Tesla (NASDAQ:TSLA). Its cars were sold as status symbols in “Nio Houses” to China’s millennial go-getters.  Nio was also an innovator in swapping out batteries to maintain range. But Nio has never scaled its production, producing just 160,038 cars in 2023, its best year yet.Investors have had enough. The stock is down by half in 2024. Can ...