"March Madness: NIO and BYD's Surging EV Sales Challenge Tesla"

NIO Inc. faces challenges with a lowered delivery forecast for 1Q-24 due to soft demand in China, causing its stock to hit new lows. However, an analyst believes the company's valuation is now compelling, with potential for a rebound in deliveries later in the year. NIO's gross profit is improving, and its sales multiple is favorable compared to competitors. The analyst recommends buying NIO stock, citing a positive long-term outlook for the electric-vehicle industry and a strong risk/reward relationship.