Cramer Buys SOFI
Jim Cramer recommends buying SoFi Technologies, citing its current price level as a good buying opportunity
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. ” 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. 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, Cramer said no to Boston Scientific Corporation (NYSE: BSX ).
91 on Thursday. 52. 24 on Thursday. 50.
12 on Thursday. 29. Photo via Shutterstock