Jim Cramer on Ouster: “I’m Going to Say No to Speculative”

Ouster, Inc. (NASDAQ:OUST) is one of the stocks on Jim Cramer’s radar. During the lightning round, a caller asked what Cramer thinks of the company, and he commented:

“Yeah, you know it’s a LiDAR company… and the LiDAR companies have been losing a fortune. I don’t think that there’s anything investible in, honestly, in autonomous, other than Tesla. Waymo’s not enough, of Alphabet. So I’m going to say no to speculative.”

Jim Cramer on Ouster: "I’m Going to Say No to Speculative"

A group of robotic vehicles navigating a terrain autonomously utilizing the company’s 3D vision technology.

Ouster (NASDAQ:OUST) designs and supplies high-resolution lidar sensors and software solutions used in automotive, industrial, robotics, and smart infrastructure applications. The company’s products include scanning and solid-state sensors, along with platforms for perception, traffic management, and safety. In May 2024, Cramer showed bearish sentiment toward the stock as he said:

“Oh man, that’s a lidar play. I’ll tell you — I’ve not been recommending any of those EV plays that are losing money. They do a lot of autonomous vehicles, but I can’t go there because I’m not recommending stocks where they just have not been able to even get near a profit.”

While we acknowledge the risk and potential of OUST 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 OUST and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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