Is Nio $3 Stock A Buy Now? Tesla Of China?

The company that people were calling the Tesla of China has fallen so bad. Nik stock went IPO for $11 a share not that long ago and now it is a $3 stock. The question is can this company become the tesla of China overtime and is it worth a buy down here at $3?
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Let me know if you know any good stocks to buy or good stocks to watch in the comments section.
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