NIO Inc is currently trading at $6.38, which is significantly below its 52-week high of $8.02, and the company is grappling with a troubling revenue decline of 28.98% year-over-year. Despite recent earnings beats, the overall financial health is concerning, as reflected by a negative ROE of -90.39% and a current ratio of 0.98, indicating liquidity issues. With a market cap of $13.02B and bearish revenue trends, I find NIO to be a risky investment at this moment.