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$NIO Inc (NIO.US)$ Helo, im relatively new to this stock ticker. what happened to this company from positive 60 plus growth to now 4 bucks ? would appreciate if someone could explain to me and not troll me. Thank You (:
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Red Guppy : Up is bull. Down is bear.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
CoolWaterCoolWater : The CEO is holding on to his cash burner.
Red Guppy CoolWaterCoolWater : He said a lot of money spent on R&D is ok. In terms of billions. New models need to be better than old models else no improvement hard to compete with the rest of EV makers. EV is a highly competitive business. Fighting prices is one thing you also need to fight in terms of quality too.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
bullrider_21 : The rise to 60+ was due to EVs following Nasdaq's rally. Later Nasdaq entered bear territory and EV bubble burst. Analysts were overly optimistic about EVs during that time. To be profitable, it needs to sell 300-400k EVs a year. So it is unlikely to reach 60 soon. It will be lucky to reach around one-third.
Seagullsfloppy OP bullrider_21 : That’s explained, thank you for your clarification. Selling 300k-400k EVS per year for a singular company to rise up to the old price. It’s rather questionable as there’s plenty of competition all around.
Seagullsfloppy OP CoolWaterCoolWater : Could it it be cooked book ?
bullrider_21 bullrider_21 : The cheaper Onvo and Firefly models will help.