$NIO Inc.(NIO)$ NIO has bottom

$NIO Inc.(NIO)$ NIO has bottomed out. A pre-profit tech trades at 5 X Sales. ($22) NIO is not even trading at 1 X Sales. It trades like a company folding up, when at the same time sales are exploding to close to a quarter billion USD a week since April and the company is clearly the leader in EV technology. A Short in NIO at this level is pure risk with little reward. NIO has ONVO waiting in the wings. ONVO will claim 20 to 35% of Tesla Model 3 sales in 2025. NIO has also completed a full golden Fibonacci retrace and represents a stock that will make shrewd investors immense profits if they buy and hold at this level. Zack's does not have a clue on the fundamental true value of NIO.

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