10 Stocks Jim Cramer Talked About

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1. Rivian Automotive, Inc. (NASDAQ:RIVN)

Number of Hedge Fund Holdings: 36

Rivian Automotive, Inc. (NASDAQ:RIVN) is a California-based electric vehicle company. The firm’s shares saw quite a bit of action last week after Goldman Sachs increased its share price target on December 12th. Rivian Automotive, Inc. (NASDAQ:RIVN)’s shares closed 12% the day of Goldman’s coverage. After Goldman Sachs, Evercore ISI joined in and reiterated an Outperform rating and an $18 share price target on December 15th. Evercore explained that Rivian Automotive, Inc. (NASDAQ:RIVN) appears to be heading in the right direction with its autonomous driving platform. The investment bank added that the firm’s decision to build its in-house chip could accelerate autonomous driving and reduce long-term costs, particularly due to a lower reliance on NVIDIA’s products. The latest analyst coverage for Rivian Automotive, Inc. (NASDAQ:RIVN) came after Baird raised the share price target to $25 from $14 and bumped the rating to Outperform from Neutral. As per Baird, the R2 upgrade cycle, coupled with custom chips, paints an optimistic picture for the firm. However, Cramer disagrees with the analysts as he briefly commented:

“Rivian I feel was fatuous, they need to raise money as far as I’m concerned.”

While we acknowledge the potential of RIVN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RIVN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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