Jim Cramer Says This Basic Materials Stock Is 'Too Dicey,' Shares His Take On Arista Networks
On CNBC's “Mad Money Lightning Round,” Jim Cramer said Arista Networks, Inc. (NYSE:ANET) reported an “unbelievable” quarter, and the company's CEO Jayshree Ullal is doing a “terrific” job.
He added, “All of these stocks are a little volatile right now, but I think you want to own it and buy it into the volatility.”
On May 7, Arista Networks posted strong first-quarter earnings and issued upbeat guidance. The company’s board of directors authorized an additional $1.2 billion stock repurchase program.
Cramer said Trump Media & Technology Group Corp. (NASDAQ:DJT) is the most volatile stock he has ever come across. He added, “That is a wild one, I don't know. I mean, it depends on the trial, it depends on the money flows.”
On May 20, Trump Media and Technology Group reported a loss of over $300 million last quarter, marking its first earnings report as a publicly traded company.
When asked about Sony Group Corporation (NYSE:SONY), he said, “I just like the stock as is, and it's been weighed down by the takeover talk.”
On May 14, Sony reported better-than-expected fourth-quarter financial results. The company announced Hideaki Nishino and Hermen Hulst will succeed former PlayStation boss Jim Ryan as co-CEOs, effective June 1, 2024.
The “Mad Money” host said Sigma Lithium Corporation (NASDAQ:SGML) is “too dicey” for him.
On May 16, Sigma Lithium posted a first-quarter loss of 6 cents per share, versus a year-ago loss of 21 cents per share.
Cramer recommended Eli Lilly and Company (NYSE:LLY), adding, “And let's hope it comes in so we can buy more.”
On Tuesday, Eli Lilly announced that Chinese regulators have approved its diabetes drug tirzepatide.
Price Action:
- Arista Networks shares fell 4.8% to settle at $301.42 on Thursday.
- Sigma Lithium shares fell 4.2% to close at $15.72 on Thursday.
- Trump Media & Technology Group shares slipped 1.5% to settle at $43.91.
- Eli Lilly shares gained 0.7% to settle at $808.45 on Thursday.
- Sony shares fell 0.6% to settle at $80.80 during Thursday's session.
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