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YPF (YPF)

Based in Buenos Aires, YPF is Argentina's largest oil producer. Its stock has dropped by 61 percent in the last three months, yet it's currently trading at just three times earnings with a 13 percent growth rate.

At first glance, YPF's stock might sound attractive, but Cramer on May 24 noted that the company is being nationalized by the Argentine government. On April 16, the government announced it would seize a majority stake in YPF from Repsol, a Spanish oil and gas company. Cramer suspects the government could continue to seize more and more of the company as time goes on. So, he recommends avoiding this stock.

Click here for more from Cramer on this stock.

Photo: Juan MABROMATA | AFP | Getty Images