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'An Irrelevant Company': Jim Cramer Says Snap Is 'Not Investable'

Benzinga ·  Aug 13 20:50

On CNBC's "Mad Money Lightning Round," Jim Cramer recommended buying Applied Materials, Inc. (NASDAQ:AMAT). "I think that the company is doing well. I think that the government is not crazy about their posture, because they do so much business in China," he added.

When asked about Aflac Incorporated (NYSE:AFL), he said, "It's not my fave, not my fave. I do like Chubb Ltd (NYSE:CB) in the insurance business. But that's really about it."

"We're going to steer clear of Albemarle (NYSE:ALB)," Cramer said.

When asked about Elevance Health, Inc. (NYSE:ELV), he said, "UnitedHealth Group Inc (NYSE:UNH) is still the cream of the crop."

Snap (NYSE:SNAP) is "really not, it's not investable," he said. "They seem like an irrelevant company."

The "Mad Money" host said Main Street Capital Corporation (NYSE:MAIN) is a "business development company. I have never trusted business development companies,"

Cramer said Alibaba Group Holding Limited (NYSE:ABBA) is an "incredibly cheap stock, alright. They're going to report a great number, and then there's always going to be something that people don't like, and then they sell it down."

Price Action:

  • Aflac shares fell 0.1% to settle at $101.19 on Monday.
  • Elevance Health shares fell 1.2% to close at $525.85.
  • Albemarle shares fell 6.9% to close at $76.00.
  • Snap shares fell 0.3% to close at $9.02.
  • Applied Materials shares gained 1% to settle at $193.09 on Monday.
  • Main Street Capital shares fell 0.5% to close at $48.35 on Monday.
  • Alibaba shares gained 1.2% to close at $80.91.
  • $1.7M Bet On Standard BioTools? Check Out These 3 Stocks Under $5 Insiders Are Aggressively Buying

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