Uber (UBER)’s “a Good Stock” With “a Horrendous Chart,” Says Jim Cramer

We recently published 11 Stocks Jim Cramer Shared His Insights On.  Uber Technologies, Inc. (NYSE:UBER) is one of the stocks Jim Cramer discussed.

After Uber Technologies, Inc. (NYSE:UBER) earlier this month, the firm’s shares dipped by 5% even as it beat analyst revenue estimates of $13.28 billion by posting $13.47 billion. However, Cramer defended the stock and commented that he liked the firm’s revenue growth and its strategies for customer engagement and cross-selling. In this appearance, he discussed Uber Technologies, Inc. (NYSE:UBER) after co-host Carl Quintanilla pointed out that the stock had dipped below its 200-day moving average for the first time since spring:

“I think that’s a good stock, it’s just a horrendous chart. And the chart has really taken over here. Again, because there’s a lot of people who don’t know what they own, and they’re just blowing out things. And you’ve got to let them finish. Let the people who are pathetic get out of stocks.”

“[After Carl Quintanilla commented on calling people who wanted to take profits pathetic] I think you’re right. . .look, okay, not everyone’s pathetic, obviously there are people who bought at the high, and yeah, I mean, why not take some gains. But those people will wash out, and then you get a nice bottom.”

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