NIO Stock: Here’s Why I Won’t Touch it With a 10-Foot Pole Right Now


Source: fool.ca fool.ca

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Shares of NIO (NYSE:NIO) continue to be under pressure in 2022. Interestingly, NIO stock yielded an eye-popping return of around 1,112% in 2020, which attracted investors’ attention and made it one of the most popular electric vehicle (EV) stocks. However, the stock couldn’t sustain these gains for long. At the time of writing, NIO stock was trading at US$17.62 per share with 44% year-to-date losses after witnessing a 35% value erosion in 2021. While bulls are hoping NIO stock to repeat history by starting another 2020-like remarkable rally in the near future, I would still prefer to avoid it —...