Down 66% in This Bear Market, Can Nio Stock Recover in 2023?
Nio (NYSE: NIO) stock has lost a whopping 66% in value since the market peaked on Jan. 3, 2022, according to data provided by S&P Global Market Intelligence. The S&P 500 index has fallen roughly 18% since.
The electric vehicle (EV) stock may have gotten off to a good start this year, but is this a dead cat bounce? Given the challenges that Nio faced in 2022 and continues to face, can the stock recover in 2023?
Surging COVID-19 cases in China, lockdowns, and their effect on the economy proved to be the biggest hurdles to Nio's growth in 2022. Although the company's deliveries rose steadily through the year, it wasn't a smooth northward-bound graph thanks to a shortage in the supply of key parts and production suspensions amid COVID-19 lockdowns.
Source Fool.com
