Jim Cramer on Lyft: “I Suspect It’s Got More Room to Run”

Lyft, Inc. (NASDAQ:LYFT) is one of the stocks Jim Cramer recently offered insights on. During the episode, Cramer discussed the stock’s rally, as he commented:

“So far this year, we’ve seen a spectacular more than 50% rally in Lyft, the number two ride-sharing platform that’s finally getting its due after years of sideways trading. I suspect it’s got more room to run.”

Lyft, Inc. (NASDAQ:LYFT) operates a platform that connects drivers and riders for on-demand transportation. During the May 23 episode, a caller inquired about the stock, as they showed intention of buying more. Cramer responded:

“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.”

While we acknowledge the risk and potential of LYFT 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 LYFT 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.