Nio stock price forecast: analysis as it breaks key support

Nio (NYSE: NIO) stock price is in its third consecutive week in the red as concerns about the EV industry continued. The stock crashed to a low of $6.55 on Tuesday and is now sitting at its lowest level since June 2020. It has fallen sharply from its all-time high of$67, which it reached in January 2021.EV bubble and saturationCopy link to sectionNio and other EV companies are not doing well. Tesla, often seen as the gold standard of the sector, has crashed by over 28% from its highest point in 2023. It ha ...