Posted 10/10/2023, 11:12:50 AM
Nio Stock Slumps 70% in 2022 as Tesla Competition and Margin Pressures Weigh on Chinese EV Maker
- Nio stock has lost about 70% of its value in 2022 and continues to underperform the broader markets
- Tesla's aggressive pricing is affecting competitors' margins, including Nio's
- Increased competition in the EV space from Li Auto and others is concerning for Nio
- Analysts' average price target indicates significant upside potential but competitive pressures could hurt Nio in the near-term
- Nio's focus on mass production and new models is positive but margin pressures remain a concern
