Jim Cramer on Bristol-Myers’ Recent Stock Gain: “Unbelievable”

Bristol-Myers Squibb Company (NYSE:BMY) is one of the stocks Jim Cramer commented on along with the recent macro rally. Cramer mentioned the stock during the episode, as he commented:

“Then it might be a comeback to the drug stocks. Why? Well, remember, lots of people think the economy is stalled or in a tailspin. They’re wrong, but they’ll want to participate. When money managers are worried about the economy, they reach for Johnson & Johnson, Merck, Eli Lilly, Vertex… and Amgen, and even lowly worm Bristol-Myers now that it’s got a readout on some drug for agitated Alzheimer’s patients. No, it wasn’t an approval. It wasn’t even a well-run trial. It’s just that they didn’t have to cancel it or say that it doesn’t work. And on that really incredible news, the stock pole vaulted 5.6%. Unbelievable.”

Source: Unsplash

Bristol-Myers Squibb Company (NYSE:BMY) develops and sells medicines for cancer, heart, immune, and brain conditions. Its products include well-known drugs like Eliquis, Opdivo, Revlimid, and Orencia.

While we acknowledge the risk and potential of BMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BMY and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.