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Nio Stock Plunged 69% in 2022. Is It a Buy for 2023?

Nio Stock Plunged 69% in 2022. Is It a Buy for 2023?

Nio (NYSE: NIO), a stock that rode the electric vehicle (EV) hype in 2021, turned out to be among the biggest losers in 2022 -- it plunged 69% last year. At current prices, Nio could be a rare opportunity to buy a growth stock in a fast-growing industry. Here are the three biggest reasons why Nio stock is a solid buy right now for 2023.