On CNBC’s “Mad Money Lightning Round,” Jim Cramer strongly advised against investing in Riot Platforms, Inc.. Despite the recommendations of others, Cramer expressed his lack of trust in this company.
This follows the reiteration of a positive outlook for Riot Platforms by Cantor Fitzgerald analyst Josh Siegler. The analyst affirmed an Overweight rating for the company and maintained a $19 price target.
Addressing Robinhood Markets, Inc., Cramer pointed out the company’s heavy reliance on options and Bitcoin. He expressed the necessity for Robinhood to diversify its customer base beyond these high-risk areas.
Anxiously anticipated, Robinhood Markets is scheduled to disclose its fourth quarter and full year 2023 financial outcomes on Feb. 13, 2024, following the market close. Analysts are projecting a quarterly loss of 1 cent per share with revenue hitting $453.46 million.
Cramer characterized Portillo’s Inc. as a perplexing entity, calling it a “great quandary.”
Expressing reservation, the “Mad Money” host admitted the need to dedicate more time to researching Soho House & Co Inc.. He indicated a lack of familiarity with the company.
In November, Soho House & Co promoted Tom Collins to the position of chief operating officer.
Price Action: On Monday, Soho House shares inched up by 0.2% to conclude at $6.38, while Portillo’s shares dipped by 0.6% to $13.36. Meanwhile, Robinhood gained 2.6% to settle at $10.99, and Riot Platforms shares ascended by 3% to close at $10.60.
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