The Tesla of China plummets 18% after Goldman downgrades to sell and expects 46% downside on high valuation (NIO)

The Tesla of China plummets 18% after Goldman downgrades to sell and expects 46% downside on high valuation (NIO)

Business Insider

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· *Nio Inc. plunged as much as 18% on Friday after Goldman Sachs downgraded the Chinese electric vehicle maker to "sell" due to its high valuation.*
· *Shares of Nio have surged 221% year-to-date as of Thursday's close as investors' euphoria around electric vehicle companies soars, in part driven by Tesla's meteoric rise.*
·...

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