CNBC’s renowned investor Jim Cramer delivered his sharp insights on a range of stocks during the latest ‘Mad Money Lightning Round,’ offering viewers a whirlwind tour of the market’s current sentiment. His assessments ranged from enthusiastic endorsements to stark warnings, leaving investors with plenty to consider.
One of the most striking pronouncements came regarding Occidental Petroleum (OXY). Cramer labeled OXY as one of his “least favorite oils,” a significant statement given the ongoing volatility in the energy sector. This bearish sentiment is echoed by recent analyst reports. UBS analyst Josh Silverstein maintained a Neutral rating but lowered the price target from $58 to $51, while Wells Fargo’s Roger Read also reduced their target from $56 to $53, maintaining an Equal-Weight rating. This confluence of negative opinions suggests a cautious outlook for OXY, which experienced a 0.9% drop to settle at $48.05 on Tuesday.
In contrast, Cramer expressed optimism for several other companies. He viewed The Cooper Companies, Inc.’s COO’s situation positively, stating, “I think it’s a very good situation.” However, he adopted a more speculative approach toward Archer Aviation Inc. (ACHR), describing it as “the ultimate speculative” investment, but acknowledging its potential for those comfortable with risk. The stock closed down 1.3% at $7.72 on Tuesday.
Energy Transfer LP (ET) received a strong vote of confidence from Cramer, who advised viewers to hold onto their shares and even to buy more if the price dips. Similarly, he showed considerable faith in Abbott Laboratories (ABT), highlighting that he believes the company’s legal issues are largely behind it. Abbott saw a positive 0.5% gain, closing at $115.50 on Tuesday. Kinder Morgan, Inc. (KMI) also received a positive assessment, with Cramer deeming it a “good situation.” However, the stock experienced a 0.8% decline, closing at $26.89.
Not all news was positive, though. Advanced Drainage Systems, Inc. (WMS) incurred Cramer’s criticism, as he noted the company ‘missed the numbers by a mile,’ a significant red flag that, in his opinion, often foreshadows further underperformance. WMS’s stock dropped 1.7% to $128.24 on Tuesday.
This ‘Mad Money Lightning Round’ offered a snapshot of Cramer’s current market sentiment, highlighting the fluctuating fortunes of various companies and underscoring the importance of thorough due diligence before making investment decisions. Investors should remember that this is just one opinion and should conduct their own research before making investment choices.
