10 Cheap Jim Cramer Stocks to Invest In

6. Lyft, Inc. (NASDAQ:LYFT)

Number of Hedge Fund Holders: 56

Forward P/E: 13.15

Lyft, Inc. (NASDAQ:LYFT) is one of the 10 cheap Jim Cramer stocks to invest in. According to Axios on June 12, the company is expanding its advertising business with the introduction of three new formats: Sponsored Map Vehicles, Sponsored Rides by Mode, and Vertical Video. Sponsored Map Vehicles will feature a full-day takeover of the Lyft map. Sponsored Rides will allow branding to appear on the Lyft homepage and during the ride. Vertical Video will consist of full-screen, non-skippable video ads that play when riders choose the Wait and Save option.

At BofA Securities’ 2025 Global Technology Conference on June 3, when asked about Lyft Media’s ad performance, referencing its projected $100 million annual run rate, CEO Erin Brewer replied that video ads have driven most of the growth. Brewer noted that brand partners are seeing a 7x increase in brand favorability and 10x higher click-through rates compared to other formats.

Furthermore, on May 23 during an episode of Mad Money, Cramer stated:

“Look, I like David Risher. The stock’s just had a nice pop. I would not come in on top of this pop, I would let it come down. I think it just had too big a move, and I don’t like parabolic moves, but you nailed a good one. And if you’re up big, how about this? How about a little schnitzel, take some off, and then play with the house’s money.”

Lyft (NASDAQ:LYFT) operates a platform that links riders to drivers for on-demand transportation. The company also provides rental options for cars, bikes, and scooters for short trips via its mobile app.