Jim Cramer on Swarmer: “I Still Find It Really Hard to Recommend This Stock Right Here”

Swarmer, Inc. (NASDAQ:SWMR) was among Jim Cramer’s stock calls on Mad Money, as he highlighted worthy space players and reviewed several of this year’s IPOs. Cramer showed his shifting sentiment around the stock, as he remarked:

Third, in early April, I highlighted a drone software company, it’s called Swarmer, that had come public in March at $5 only for the stock to soar to $26 by the time I covered it. This was an exciting story, but I found it just hard to aggressively recommend a red-hot stock like this when the underlying company barely had any revenue. Turns out I didn’t have enough imagination as Swarmer has zoomed from $26 back then to $45 and change today, although it’s pulled back hard from $55 a couple of days ago. I think, like many winners, it’s fallen victim to selling by people who wanted to raise funds for the SpaceX deal. And look, given that Swarmer brought in a little more than 20 grand in revenue in the latest quarter, I still find it really hard to recommend this stock right here.

Image by Sergei Tokmakov Terms.Law from Pixabay

Swarmer, Inc. (NASDAQ:SWMR) is a defense technology firm that develops vendor-agnostic software for autonomous swarm coordination and multi-domain unmanned systems.

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