Cramer 'Takes A Pass' On Stock That's Down 31% Over Past 6 Months: 'Don't Want To Go Against Musk'
Portfolio Pulse from Avi Kapoor
Jim Cramer, on CNBC's 'Mad Money Lightning Round,' expressed his reluctance to recommend certain stocks. He advised against Devon Energy Corporation (DVN) due to the oil glut and Lithium Americas Corp. (LAC) to avoid opposing Elon Musk. Cramer also described Pure Storage, Inc. (PSTG) as too unpredictable and only recommended Coterra Energy Inc. (CTRA) in the oil sector, favoring its natural gas aspect. He found Grifols, S.A. (GRFS) too controversial after allegations of misleading financials by Gotham City Research. The mentioned stocks experienced declines in their share prices during Wednesday's session.
January 11, 2024 | 1:46 pm
News sentiment analysis
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POSITIVE IMPACT
Cramer's sole oil sector recommendation, Coterra Energy, due to its natural gas focus, could see a positive investor response.
Cramer's recommendation of CTRA as a preferable choice in the oil sector, emphasizing its natural gas aspect, may positively influence its short-term stock price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75
NEUTRAL IMPACT
Cramer finds Pure Storage too unpredictable based on its performance history, which could lead to cautious investor sentiment.
Cramer's characterization of PSTG as an 'up or down company' may lead to a neutral impact as investors might already be factoring in the volatility of the stock.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Jim Cramer advised against investing in Devon Energy due to the current oil glut, suggesting a bearish outlook for the stock.
Cramer's negative sentiment on commodity stocks like DVN, due to an oil glut, could influence investor perception and potentially lead to a short-term price decline.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Grifols is deemed too controversial by Cramer after allegations of misleading financials, which could lead to a negative market reaction.
The controversy surrounding GRFS due to allegations by Gotham City Research and Cramer's avoidance of the stock could contribute to a short-term negative impact on its price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Cramer recommended passing on Lithium Americas, citing a desire not to go against Elon Musk, which could impact investor sentiment.
Cramer's decision to avoid LAC due to Elon Musk's influence in the industry may deter investors, potentially affecting the stock's short-term performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70