Jim Cramer on ImmunityBio: “That Stock Is Part of the Magical Thinking Era”

ImmunityBio, Inc. (NASDAQ:IBRX) is one of the stocks mentioned during the show, as we cover everything Jim Cramer said about the oversold market. When a caller inquired about the stock during the lightning round, Cramer said:

ImmunityBio had a big cross of a huge amount of stock, but at the end, I don’t know where that stock went to. I’d like to see the stock come in and see if that block holds before I buy that because that stock is part of the magical thinking era.

A stock market graph. Photo by energepic.com

ImmunityBio, Inc. (NASDAQ:IBRX) develops therapies designed to strengthen the immune system against infectious diseases and several cancers. A caller inquired about the stock during the January 20 episode, and Cramer responded:

Okay, now that… see what happens, I think is you already had that. That moved gigantically. It’s had a giant run off this FDA meeting, and I really think that you have to take profits in some of that, not all of it, but some of it, because it’s up so big.

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