Nio Inc (NIO)

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NBC host Jim Cramer has once again advised investors to avoid buying shares in Chinese electric vehicle maker Nio Inc. (NYSE:NIO).
What Happened: “Pass, pass, hard pass. Going elsewhere. We’re not fooling around anymore,” Cramer said on CNBC’s “Mad Money Lightning Round” on Wednesday.
Cramer had previously advised investors in July to sell their shares in Nio, seen as a Tesla Inc. (NASDAQ:TSLA) rival, as he was “very worried” about the regulatory crackdown in China.
Why It Matters: Nio’s shares are down 43% from their 52-week high of $66.99 reached in January and also down almost 22% for the year-to-date period.