NIO - Jim Cramer Says He 'Would Sell' This Tesla Chinese Rival After Stock Lost Over 47% In 2024 | Benzinga
Jim Cramer offered a stark recommendation for shareholders of the electric vehicle company NIO Inc. (NYSE:NIO).
What Happened: Cramer recommended selling shares of NIO during CNBC’s Lightning Round on Thursday.
“I would sell,” he said.
Tesla Inc‘s Chinese rival stock has lost 47% of its value since the beginning of this year. The stock closed near its 52-week low of $4.36 on Thursday, according to data from Benzinga Pro.
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Why It Matters: NIO’s market performance has been under scrutiny, with an analyst report from early March highlighting a challenging outlook for the company in 2024. The report flagged concerns over NIO’s shrinking market share, as the electric vehicle deliveries in China continue to decline.
Adding to the company’s challenges, ...