Jim Cramer: Beyond Meat Is 'Way Too Risky,' Warby Parker Is 'Alright To Buy'
On CNBC's “Mad Money Lightning Round,” Jim Cramer said Warby Parker Inc. (NYSE:WRBY) is “alright to buy.“
On May 9, Warby Parker reported a year-over-year increase in first-quarter GAAP EPS results and better than-expected sales results. Also, the company raised its FY24 net revenue guidance.
When asked about Riot Platforms, Inc. (NASDAQ:RIOT), he said, “No, look. If we're going to be in that, we're just going to go buy Bitcoin (CRYPTO: BTC) or go buy Ethereum (CRYPTO: ETH), either one is fine with me.”
Riot Platforms recently announced that it made a proposal to acquire all outstanding shares of Bitfarms Ltd (NASDAQ:BITF) and accumulated a 9.25% stake.
The “Mad Money” host recommended not to own Beyond Meat, Inc. (NASDAQ:BYND), calling it “way too risky.”
On May 8, Beyond Meat said first-quarter revenue decreased 18% year-over-year to $75.603 million, which beat consensus estimates of $75.241 million, per Benzinga Pro. The plant-based meat company reported a first-quarter adjusted loss of 72 cents per share, which missed estimates for a loss of 67 cents per share.
Meanwhile, Advanced Micro Devices, Inc. (NASDAQ:AMD) under $150 would be “terrific,” Cramer says.
Advanced Micro Devices will likely expand its partnership with Samsung Electronics Co (OTC:SSNLF) to develop 3-nanometer chip processing technology.
“It's real good, but it doesn't have what Nvidia (NASDAQ:NVDA) has,” Cramer adds.
Price Action:
- Riot Platforms shares rose 0.4% to settle at $10.04 on Thursday.
- Beyond Meat shares gained 2.4% to close at $7.35.
- AMD shares rose 1% to settle at $166.75 during Thursday's session.
- Warby Parker shares gained 4% to close at $17.44 on Thursday.
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