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Nio Stock Plunged in April, but the Worst Could Be Over

Nio Stock Plunged in April, but the Worst Could Be Over

The electric vehicle (EV) stock trended even lower in the following days to hit a 52-week low on May 2, but it appears to have bottomed already, as investors now find it attractively priced. Nio delivered a record number of EVs in December, but hasn't been able to sustain its momentum so far this year. In early April, Nio said its deliveries in the first quarter rose about 21% year over year.