Jim Cramer on Palantir: “This Is the Fastest Grower of the Stocks I Follow, and It’s Been Crushed”

Palantir Technologies Inc. (NASDAQ:PLTR) was among the stocks Jim Cramer commented on as he advised investors on how to take advantage of Wednesday’s market rotation. During the episode, Cramer was bullish on the company, as he said:

The only one right now that I actually trust is Palantir. This is the fastest grower of the stocks I follow, and it’s been crushed. It’s down 80 points from its high. Today, it finally showed some signs of life.

Stock market data. Photo by Jakub Zerdzicki on Pexels

Palantir Technologies Inc. (NASDAQ:PLTR) develops data analytics and AI software platforms, including Gotham, Foundry, Apollo, and Palantir Artificial Intelligence Platform, that help organizations integrate, analyze, and act on complex data. During the June 18 episode, a caller mentioned that they had started a position when the company came public and asked whether they should add more or sell, and Cramer responded:

Oh boy, let me think about this, let me think about this. I think it’s fine as long as you recognize, I just want to see what they’ve pushed it down to… yeah, I thought so, they really clubbed it today, as long as you recognize it as a long-term growth story. What’s happened is the growth wasn’t very exciting to people. The growth hasn’t slowed down, just the stock.

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.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1