This article presents an overview of Jim Cramer’s Predictions Were Right About These 4 Stocks. For a detailed overview of such stocks, read our article, Jim Cramer Made Accurate Predictions About These 9 Stocks.
4. Lucid Group Inc (NASDAQ:LCID)
Number of Hedge Fund Investors: 21
In June last year, Jim Cramer recommended investors to sell Lucid Group Inc (NASDAQ:LCID) since he believes Lucid Group Inc (NASDAQ:LCID) was losing money. Cramer has been bearish on the stock for a long time. In December 2022, Cramer had told investors that he’d not “fool around” with this stock and that “the thing just goes down and down.” Cramer said at the time that he was seeing a “trend” that was “dangerous.”
Lucid Group Inc (NASDAQ:LCID) shares have fallen by a massive 36% year to date in 2024 through March 18.
As of the end of the fourth quarter of 2023, 21 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Lucid Group Inc (NASDAQ:LCID) . The most notable stake in Lucid Group Inc (NASDAQ:LCID) is owned by Israel Englander’s Millennium Management which owns a $15 million stake in Lucid Group Inc (NASDAQ:LCID) .
3. Riot Platforms Inc (NASDAQ:RIOT)
Number of Hedge Fund Investors: 21
Jim Cramer has time and again advised investors to stay away from crypto stocks like Riot Platforms Inc (NASDAQ:RIOT) and instead directly buy Bitcoin if they want exposure to cryptocurrencies.
In November 2023, Jim Cramer said the following about Riot Platforms Inc (NASDAQ:RIOT):
“They don’t make any money…If you want to do Bitcoin, own Bitcoin.”
Riot Platforms Inc (NASDAQ:RIOT) shares are down by about 24% in 2024 so far. However, over the past 12 months, the stock price is up 35%
2. Prudential Financial Inc (NYSE:PRU)
Number of Hedge Fund Investors: 32
During his December 2023 program, Jim Cramer gave bullish comments on Prudential Financial Inc (NYSE:PRU) and said that the stock was a “keeper.” Year to date through March 15 the stock has gained about 7%, while it’s up by about 14% over the past six months.
In February, Raymond James downgraded the stock to Market Perform from Strong Buy.
As of the end of the last quarter of 2023, 32 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Prudential Financial Inc (NYSE:PRU).
1. Palantir Technologies Inc (NYSE:PLTR)
Number of Hedge Fund Investors: 44
In December 2023, Jim Cramer said during his program that he “disliked” Palantir Technologies Inc (NYSE:PLTR) for a “long time, but not anymore.” He praised Palantir Technologies Inc’s (NYSE:PLTR) “dynamite” quarter at that time and recommended investors to buy the stock.
Jim Cramer’s prediction that the stock would grow was correct. The stock has gained about 41% year to date through March 15, as it keeps grilling short sellers.
Wedbush’s Dan Ives recently upped his price target for Palantir Technologies Inc (NYSE:PLTR) after attending Palantir Technologies Inc’s (NYSE:PLTR) AIPCon conference.
“Our recent checks on Palantir in the field have been incrementally more bullish as we believe the AIP foundation is becoming viewed by many US enterprises as the ‘launching pad of AI use cases,” said Dan Ives, who increased his price target for the stock to $35 from $30.
Carillon Scout Mid Cap Fund made the following comment about Palantir Technologies Inc. (NYSE:PLTR) in its Q3 2023 investor letter:
“Palantir Technologies Inc. (NYSE:PLTR)’s stock moved higher on hopes that it could win business from the U.K.’s National Health Services and as customer counts grew rapidly in the latest quarterly report for the company’s new Artificial Intelligence Platform (AIP). Palantir also won a significant new contract with the U.S. Army in September, which should last through 2026. The debate on the street is how fast Palantir can monetize its new commercial customers. After the quarter closed, the company announced an enhanced marketing deal with a major auditing and consulting firm.”
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