Gonna offer something different than the rest of the comments lecturing you. Here's some words of wisdom~
I don't think you bought out of speculation but rather on herd-mentality. If you bought on speculation then there's no lesson to be learnt. People who held Tesla from $100 back in the early days were also considered speculators. People who are buying in now at a PE of 1000+ are also considered speculators.
"THERE'S NO WRONG IN SPECULATING"
Always remember, Nio was all time high at $20 once, it does not mean there's no chance of it going higher.
If you need the money, you can just cut losses. If you have the holding power, just give it a couple of weeks / months.
It's business model is rather interesting and with the announcement of the new car launch, I believe it is in a better position to rival with Tesla with the upgraded specs.
From what I see, Tesla aims to be a mass-market EV provider. They are looking to launch a more affordable variant in China, however, Nio has positioned themselves as a more luxurious EV company and if you understand the purchasing mentality of the China market, how they are particular about 'face' and thus may go for Nio rather than Tesla (not to mention specifications-wise)
Generally, stocks like Nio are pretty violatile. While Nio has an amazing upside, there is also a real possibility that the company can still fail. On key earnings and other operational metrics, Nio isn't that great. It is still an extremely young company, looking to turn a profit.
Having said that, NIO announced a partnership with Intel to build a Taxi Fleet back in Aug 2020 and that could really boost revenues. Additionally, Nio has partnered with Nvidia and Qualcomm in the development of the next generation of automated vehicles. .The company also has a big investor in Tencent Holdings.
If you had already made a large investment play into Nio, my recommendation would be to hold it for the longer term.
Let be give you some food for thought just like what @billy ko.
I agree with what @billy ko said. T...
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