The chart is broken. I've covered this previously, but look at $XPeng Inc.(XPEV)$ chart compare to $NIO Inc.(NIO)$ and you can see that $xpev is currently in an uptrend. $nio needs to get out of the single digits before we can talk about any sustained rally.
Basically put, the technicals of the stock is affecting the sentiment and that leads to ppl thinking bad stock = bad investment/company. This is how markets are inefficient. Our job is to buy stocks like nio when we identify this phenomenon.
US Stocks Opportunities
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