$NIO Inc.(NIO)$
$NIO the price is heading towards $3.50!!! That's what the price is alerting us to!! If we add to this the company's plans to reduce the initial 10% of the workforce to 30% and how this affects the production processes, sales and investments!!
It is reasonable that the price no longer stops at $5 and its bearish structure goes deeper into the falls!! Everything will depend on what is explained to investors in the presentation of results for the 3rd quarter!!! the cash burn must stop!! The company had 300M shares and today it has 1.6B shares!!
That is an example of the burning and destruction of value for the shareholder!!! When an asset falls every day, it does not do so because of its benefits!! He does it because it is a real disaster!!!
It doesn't matter how good the product is if it is not sustainable or sold!!!! It is possible that NIO's big mistake is the manufacture of electric vehicles, the rest is fine!!! Let's hope that mistake doesn't destroy the company!!!
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- Diadem·2023-11-29🤣🤣LikeReport