Nio's stock journey: IPO at $6.28 in 2018, peaked at $62.84 in 2021, now around $5,60/share. Enterprise value peaked at $91.4 billion, now 10billion.
While the stock has lost 41.2% since new year, there is light at the end of the tunnel as the stock is in oversold territory and January sales expected to be better than predicted earlier.
* RSI finding support at trendline from 2019 * Sentiment about to change as stock is in oversold territory * Price is at the price area where NIO corrected before it took of in 2020
NIO currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises.