Cramer Buys SOFI

On CNBC’s “ Mad Money Lightning Round ,” Jim Cramer said NioCorp Developments Ltd. (NASDAQ: NIOBW ) is a "little too speculative” and added that he likes MP Materials (NYSE: MP ) as it has the go vernment’s backing .

Cramer recommended buying SoFi Technologies, Inc. (NASDAQ: SOFI ) . “We got back to $18 and I said, time to buy.

It’s hanging around that level,” he added.

SoFi Technologies shares traded higher on Thursday as investors reacted to continued insider buying from CEO Anthony Noto , with the broader tape also leaning risk-on in tech .

Innodata Inc. (NASDAQ: INOD ) is a “data engineering company, and this market likes data engineering, so I’m gonna say it’s fine,” Cramer said. “It’s a little too speculative for me.” Cramer said he is not recommending buying Rivian Automotive, Inc. (NASDAQ: RIVN ) as it is losing too much money.

Needham analyst Chris Pierce reiterated a Buy rating on Rivian Automotive on June 10 and maintained a $23 price target.

The Mad Money host said he can’t think of a reason to own Tractor Supply Company (NASDAQ: TSCO ) .

Cramer recommended selling SoundHound AI, Inc. (NASDAQ: SOUN ) , calling it a “meme stock.” On the earnings front, SoundHound reported first-quarter revenue of $44.20 million on May 7, beating the consensus estimate of $42.56 million.

The conversational AI company reported an adjusted loss of six cents per share for the quarter, missing estimates for a loss of four cents per share, according to Benzinga Pro .

Cramer said no to Boston Scientific Corporation (NYSE: BSX ) .

Price Action: SoFi shares gained 2.8% to settle at $17.91 on Thursday.

Rivian Automotive shares gained 1.6% to close at $16.52.

Tractor Supply shares rose 1.7% to close at $30.24 on Thursday.

Innodata shares declined 6.9% to settle at $95.50.

SoundHound shares gained 2.3% to close at $7.12 on Thursday.

Boston Scientific shares gained 0.8% to settle at $45.29.

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