Jim Cramer on Palantir: “It’s a Meme Stock”

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks in Jim Cramer’s spotlight. A caller asked if they are too late to jump into the stock, and Cramer replied:

“Okay, Palantir. When it was at $50, I said it was going to $100. When it got to $100, I said it’s going to $200. So, in that sense, the momentum is still with you, and it is not too late. Now, does it deserve that? These guys talk a big game. It’s a meme stock, okay. Like Robinhood, it’s a meme stock. The memesters won’t let the stock come in. It’s not a good reason to buy, but I’m telling you where it’s going.”

Jim Cramer on Palantir: "It’s a Meme Stock"

A software engineer intently typing code into a laptop with multiple screens in an office.

Palantir (NASDAQ:PLTR) creates software that helps organizations analyze complex data, support critical decision-making, and run AI-powered operations. The company’s platforms are used for everything from counterterrorism to enterprise data integration and deploying advanced language models.

While we acknowledge the risk and potential of PLTR 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 PLTR 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.