On CNBC's "Mad Money Lightning Round," Jim Cramer recommended buying Reddit, Inc. (NYSE:RDDT), saying he likes the stock very much.
Reddit made its long-awaited entry into the public markets earlier this year as the first major initial public offering of 2024. After pricing its IPO at $34 per share, the stock opened on March 21 for trading at $47. It closed Wednesday at $71 per share.
Carmaer also likes Cava (NYSE:CAVA). "I don't want you to buy it up here," he said. "I do want you to own it."
The "Mad Money" host said Super Micro Computer, Inc. (NASDAQ:SMCI) is "too hard" and recommended buying Nvidia (NASDAQ:NVDA).
When asked about GE HealthCare Technologies Inc. (NYSE:GEHC), he said. "I'd wait for another downgrade and buy more. I would not buy more right here."
Cramer said buying McCormick & Company (NYSE:MKC) right here is a "very good idea."
The Mad Money host said GlaxoSmithKline (NYSE:GSK) goes higher.
Cadence Design Systems, Inc. (NASDAQ:CDNS) is a "winner," he said.
"This is a loser. Maybe it can make a comeback," Cramer said when asked about Nextracker Inc. (NASDAQ:NXT). "I got too enthusiastic about it."
Cramer said he is not encouraging buying in that sector, when asked about Equinor ASA (NYSE:EQNR).
Accenture plc (NYSE:ACN) is a "great buy" here, Cramer said.
Cramer said he just doesn't understand Trump Media & Technology Group Corp. (NASDAQ:DJT).
Price Action:
- Cava shares fell 0.1% to settle at $131.86 on Wednesday.
- Trump Media & Technology shares fell 5.6% to close at $20.57.
- Reddit shares gained 0.3% to close at $71.00.
- Accenture shares rose 1.3% to close at $365.08.
- Equinor shares fell 2% to settle at $24.88 on Wednesday.
- Nextracker shares gained 0.3% to settle at $35.24.
- Cadence Design shares gained 3.5% to close at $279.56 on Wednesday.
- GlaxoSmithKline shares gained 5.8% to close at $40.24 on Wednesday.
- Super Micro Computer shares gained 4.3% to close at $47.29 during the session.
- GE Healthcare shares gained 0.1% to close at $90.77 during Wednesday's session.
- McCormick shares gained 0.1% to close at $79.71 on Wednesday.
- S&P Settles At Record High As Apple, Amazon Shares Surge: Investor Optimism Improves Ahead Of Inflation Data
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