Should You Buy Nio Stock While It's Below Its IPO Price?

Nio (NYSE: NIO), a Chinese maker of electric vehicles (EVs), went public at $6.26 per American depositary share just over six years ago. Its stock soared tenfold to a record high of $62.84 during the apex of the meme stock rally on Feb. 9, 2021, but it now trades at less than $5.Like many other smaller EV companies, Nio struggled to ramp up its production, maintain its pricing power, and narrow its losses. China's cooling economy and rising tariffs on its exported EVs exacerbated that pressure. But should contrarian investors buy Nio's stock as it languishes below its IPO price?Image source: Nio.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool