Jim Cramer Says Rocket Is A 'Very Fine' Company, Recommends Buying This Health Care Stock
On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying Eli Lilly and Company (NYSE:LLY). “I just think this is a decent level to start a position if you don't have any,“ he noted.
As per recent news, Lilly’s Kisunla (donanemab) received marketing authorization in Australia on May 21 for the treatment of early symptomatic Alzheimer’s disease.
“That one's done,” Cramer said when asked about Navitas Semiconductor Corporation (NASDAQ:NVTS). “I say take your money out that you put in and then you can let the rest ride.”
Nvidia, last week, selected the company to collaborate on 800V HVDC architecture.
Cramer recommended taking profit from Mr. Cooper Group (NYSE:COOP). “That thing's done,” he added.
Supporting his view, Mr. Cooper posted weaker-than-expected quarterly sales on April 23.
Red Cat Holdings, Inc. (NASDAQ:RCAT) is “just one darn crazy” stock, adding that the stock is not making any money.
On the earnings front, Red Cat reported first-quarter revenue of $1.63 million on May 14, missing analyst estimates of $3.85 million. The company reported a first-quarter loss of 27 cents per share, missing analyst estimates for a loss of eight cents per share, according to Benzinga Pro.
Rocket Companies, Inc. (NYSE:RKT) is a “very fine” company, Cramer said.
Lending support to his choice, Rocket Companies, on May 8, posted better-than-expected quarterly sales.
“I've got to tell you, I am not in the oil service business,” Cramer said when asked about Liberty Energy Corp. (OTC:LBYE). He said he didn’t “care for the stock” of Halliburton (NYSE:HAL) but liked Schlumberger (NYSE:SLB).
The Mad Money host said he likes Rio Tinto Group (NYSE:RIO).
As per recent news, Rio Tinto on Thursday disclosed that its CEO, Jakob Stausholm, will step down later this year. Jakob joined the company in 2018 as executive director and CFO and took on the role of CEO in January 2021.
When asked about DeFi Development Corp. (NASDAQ:DFDV), Cramer recommended buying Bitcoin (CRYPTO: BTC).
On May 16, DeFi Development announced a partnership with BONK to operate and manage a jointly backed validator node.
Price Action:
- Eli Lilly shares fell 0.2% to settle at $713.71 on Friday.
- Navitas shares declined 12.7% to close at $4.41 during the session.
- Rocket shares gained 0.9% to settle at $12.68.
- Rio Tinto shares gained 0.8% to close at $61.58.
- DeFi Development shares dipped 18.9% to settle at $34.45 on Friday.
- Red Cat shares gained 1.3% to settle at $6.82 on Friday.
- Liberty Energy shares closed at 0.0001 during the session.
- Mr. Cooper shares gained 1.6% to close at $129.50.
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