Jim Cramer Says He 'Would Sell' This Tesla Chinese Rival After Stock Lost Over 47% In 2024
Portfolio Pulse from Benzinga Neuro
Jim Cramer advised selling shares of NIO Inc. (NYSE:NIO), citing a 47% loss in stock value since the start of the year. Despite a partnership aimed at extending battery lifespan, NIO's market share continues to shrink, and its stock closed near a 52-week low. However, some investors have shown bullish behavior through options trading.
April 12, 2024 | 11:38 am
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NEGATIVE IMPACT
Jim Cramer's sell recommendation and NIO's 47% stock value loss this year, alongside a shrinking market share and a partnership to extend battery lifespan, present a mixed outlook.
Jim Cramer's recommendation to sell NIO shares, based on its significant loss in stock value and shrinking market share, suggests a negative short-term impact. However, the mixed investor reactions, as seen in options trading, indicate some level of market confidence, which might mitigate the impact slightly.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100