Delving into the tech sector on CNBC’s “Mad Money Lightning Round,” the ever-animated Jim Cramer shared his thoughts on a variety of stocks. Starting off with Marvell Technology, Inc. MRVL, Cramer mentioned the company reported a mixed quarter and advised patience.
Some context here: Marvell Technology recently made waves with a groundbreaking development in semiconductor technology by expanding its partnership with Taiwan Semiconductor Manufacturing Co TSM to launch the first-ever 2nm silicon IP technology platform.
Shifting gears, Cramer turned his attention to Datadog, Inc. DDOG, praising it as a “dynamite” company despite its high valuation. According to Cramer, Datadog’s expertise is commendable.
In recent reporting, Datadog boasted strong fourth-quarter sales figures but sparked concern with lower-than-expected FY24 EPS guidance. Yet, its fourth quarter FY23 revenue hit $589.649 million, outshining analyst estimates.
Next up was the topic of Centrus Energy Corp. LEU, which Cramer dubbed a speculative play. Instead, he advised keeping an eye on Vernova, a GE spinoff, due to its focus on nuclear energy and solid financials.
Another stock in the limelight was Altimmune, Inc. ALT, characterized by Cramer as a high-risk option compared to the stalwart Eli Lilly LLY.
A recent move by Kerrisdale Capital to establish a short position in Altimmune underscored doubts about its ability to compete in the GLP-1 space, deeming it a venture that leads to a “dead end.”
As the conversation continued, SoFi Technologies, Inc. SOFI emerged as a sour spot for Cramer, landing itself in the proverbial dog house. Cramer expressed disappointment with SoFi’s stock trajectory following a recent convertible bond issuance, expressing a desire to uncover the underlying issues.
On March 5, SoFi Technologies made headlines with a proposed $750 million convertible senior notes offering maturing in 2029.
Wrapping up the lineup, Cramer touched on On Holding AG ONON, characterizing its recent performance as “controversial” and indicating his uncertainty regarding the stock.
Stock Performance
- Marvell Technology saw a 0.5% uptick, closing at $67.20 on Monday.
- Datadog experienced a 0.4% increase, settling at $120.87 by the end of Monday’s trading session.
- Centrus Energy climbed 1.4% to end at $38.77 on Monday.
- Altimmune faced a 7.9% decline, ending the day at $9.08 on Monday.
- Lantheus witnessed a 2.8% drop, closing at $56.52 on Monday.
- SoFi shares rose 0.7%, settling at $7.08 on Monday.
- On Holding shares dropped 0.4%, closing at $33.10 on Monday.
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