Is NIO Stock Bottoming? Understanding Cyclicality

After announcing their first quarter 2024 earnings results, shares of NIO Inc. NYSE: NIO are now falling by as much as 7% in the day’s trading session. Despite the negative media surrounding Chinese stocks and some disappointing figures for NIO recently, this event could mark the start of a bottoming for the stock and maybe even a new leg higher.NIO TodayNIONIO$4.90 -0.36 (-6.84$3.61▼$16.18Price Target$7.53Add to WatchlistAutomotive stocks like Tesla Inc. NASDAQ: TSLA have also seen their st ...