Cramer Says Tesla Dominates While Ouster Is 'Too Speculative'
In a market increasingly defined by volatility and uncertainty, investors are grappling with a mix of opportunities and risks. The recent turmoil in the tech sector, particularly among companies heavily reliant on artificial intelligence, has raised questions about sustainability and profitability.
On CNBC's “Mad Money Lightning Round,” Jim Cramer said Tempus AI, Inc. (NASDAQ:TEM) is another company that's just losing money “hand over fist,” so he recommended not going there.
According to recent news, Personalis, Inc. (NASDAQ:PSNL) announced on Wednesday an expansion and extension of its strategic collaboration with Tempus AI, adding a new indication, colorectal cancer, to the existing, exclusive commercialization agreement.
When asked about First Majestic Silver Corp. (NYSE:AG), he said, “I like silver. First Majestic, not familiar with. The one that I've always recommended is Pan American (NASDAQ:PAAS) because it's been profitable for a very long time.”
First Majestic Silver, on Wednesday, issued second-quarter production numbers and raised its FY25 silver and gold outlook.
Insmed Incorporated (NASDAQ:INSM) is “very speculative,” Cramer said. “It has lost a huge amount of money, so it's very hard for me to get a handle on it.”
According to recent news, Insmed announced topline results from its randomized, double-blind, placebo-controlled Phase 2b study evaluating the efficacy and safety of treprostinil palmitate inhalation powder on Thursday. The study met its primary endpoint and all secondary efficacy endpoints.
“I don't think that there's anything investible in, honestly, in autonomous, other than Tesla (NASDAQ:TSLA),” Cramer said when asked about Ouster, Inc. (NASDAQ:OUST). “I'm going to say no, too speculative.”
Supporting his view, WestPark Capital analyst Casey Ryan, on June 12, downgraded Ouster from Buy to Hold.
Price Action:
- Tempus AI shares fell 0.2% to settle at $58.41 on Wednesday.
- First Majestic Silver shares gained 5.5% to close at $8.43.
- Ouster shares gained 6.4% to settle at $24.63 on Wednesday.
- Insmed shares rose 0.3% to close at $96.47.
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