Jim Cramer on Main Street Capital: “We’re Not Going There”

Main Street Capital Corporation (NYSE:MAIN) is one of the stocks on Jim Cramer’s radar recently. A caller asked if it was a good time to buy more shares of MAIN during the dip or to wait and “line up in pump formation.” Cramer remarked:

“You gotta lineup in pump formation, honestly, because I have no idea. You don’t know what they really own. If we get a real slowdown, the Fed doesn’t react, we’re going to be thinking, wow, we were on… Dead Street, so we’re not going there.”

A technical stock market chart. Photo by Energepic from Pexels

Main Street Capital Corporation (NYSE:MAIN) is a business development and investment firm that provides private debt and equity financing to lower middle market and middle market companies. On October 15, Truist analyst Arren Cyganovich reduced the price target on the stock from $64 to $60. The analyst maintained a Hold rating after the company’s Q3 pre-announcement. Cyganovich noted that the lower price target reflects reduced peer multiples.

While we acknowledge the risk and potential of MAIN 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 MAIN 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.