People should hold off buying GoPro Inc (NASDAQ:GPRO), hold on to their shares in General Electric Company (NYSE:GE) and buy stock of Lockheed Martin Corporation (NYSE:LMT), Jim Cramer said in a segment of Cramer Remix on CNBC.
GoPro Inc, the host said, may be real, but it is in his opinion that the stock is overpriced at the moment.
“GoPro Inc, it’s the real deal, but that doesn’t mean that it’s not expensive,” Cramer said.
The only time people should buy GoPro Inc is on “a very healthy pullback,” the veteran anchor said, if a pullback does happen.
It seems Cramer thinks GoPro Inc is not going anywhere any time soon, but he’s waiting for a significant decline in its share price before he buys or recommends buying the stock.
As for General Electric Company, Cramer finds it harder to recommend the stock. Why? Because he said it is boring.
“This is really hard because my charitable trust goes back and forth [on this stock]. It has been wallpaper but it’s an inexpensive stock with a good yield and I think you should hold on to it,” Cramer said about General Electric Company.
General Electric Company, through its ups and downs in the past 12 months, has lost nearly three quarters of a dollar.
Meanwhile, if people are looking for a stock that has Cramer’s approval, it’s Lockheed Martin Corporation.
“Lockheed Martin Corporation: buy some and then let it come in because it’s one of the few stocks that never comes in,” Cramer said.
In the past 12 months, Lockheed Martin Corporation, which has helped raise wages in these top 10 paying cities for tech workers, has went up from over $135 per share to over $190 per share.
Ken Fisher’s Fisher Asset Management reported owning about 30.73 million General Electric Company shares by June 30. Also by the end of the second quarter, Jean-Marie Eveillard’s First Eagle Investment Management reported owning about 2.74 million shares in Lockheed Martin Corporation.
