Jim Cramer Says If You Sell This Chinese EV Stock Now, 'Some Clown' Will Be 'Real Positive About It,' Wait Until 'All That Stuff Happens'

Author: Avi Kapoor | July 16, 2024 08:52am

On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended going for Arista Networks, Inc. (NYSE:ANET). “Jayshree Ullal [President and CEO of Arista Networks] is an amazing businessperson, and I think it's a fantastic stock,” he added.

Arista Networks is expected to release its financial results for the second quarter, after the closing bell on Tuesday, July 30. Analysts expect the company to report quarterly earnings at $1.94 per share on revenue of $1.65 billion. Arista had posted earnings of $1.58 per share on revenue of $1.46 billion in the year-ago period.

NIO Inc. (NYSE:NIO) is “one of those stocks where if you sell it right here, some clown will come out and be real positive about it,” the “Mad Money” host said. “Let's just wait until all that stuff happens and then you can sell it.”

NIO reportedly launched the Banyan 2.6.5 CN system for vehicles utilizing the NT 2.0 technology platform on July 11. This update introduces enhanced AEB (automatic emergency braking) functionality, which has been fine-tuned with artificial intelligence technology, CnEV Post reported.

Cramer recommended not to sell Deere & Company (NYSE:DE) down here. “It's very tough to justify owning the stock,” he added.

On July 11, JPMorgan analyst Tami Zakaria maintained Deere with a Neutral rating, while cutting the price target from $385 to $375.

Price Action:

• Arista shares fell 0.4% to settle at $360.42 on Monday.
• Deere shares gained 1.7% to close at $371.67 during Monday's session.
• NIO shares fell 4.9% to close at $4.63 on Monday.

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Posted In: ANET DE NIO