It's time to buy Nio shares after the Chinese electric vehicle maker's 44% drop in past year, UBS says

Bin Li, CEO of Chinese electric vehicle start-up NIO Inc., celebrates after ringing a bell as NIO stock begins trading on the floor of the New York Stock Exchange (NYSE) during the company's initial public offering (IPO) at the NYSE in New York, September 12, 2018.
Brendan McDermid | Reuters

Shares for Chinese electric vehicle maker Nio have significant upside after cratering 44% over the past year, according to UBS.