Was Jim Cramer Right About AST SpaceMobile, Inc. (ASTS)?

We recently published a list of Was Jim Cramer Right About These 11 Stocks? In this article, we are going to take a look at where AST SpaceMobile, Inc. (NASDAQ:ASTS) stands against other stocks that Jim Cramer discusses.

A caller asked about AST SpaceMobile, Inc. (NASDAQ:ASTS), wondering about its potential despite having no earnings yet. Cramer shut it down:

“No. I want you to stay away. We’ve got so many great companies — so many terrific companies — and we don’t need to be in that one.”

Cramer was completely wrong on ASTS, which exploded 405.94% after he said avoid it. AST SpaceMobile, Inc. (NASDAQ:ASTS) is building the world’s first space-based cellular broadband network to deliver direct-to-device connectivity across the globe.

An aerial view of a communications satellite in orbit, beaming its signal down to Earth.

Jim Cramer still doesn’t rate the stock and gave a negative opinion on it when asked about it recently. Here’s what he said on March 28:

“The biggest problem is that they’ve got a hideous balance sheet, and I don’t like hideous balance sheets. What has to happen is I think they should take on a partner. I do think that they’ve got a very interesting way to- look it’s a good telecom company partner, but what really matters to me is they’ve got to either start making money or get someone to give them some money. Right now, I think you’re too up in the air in this particular stock market.”

Overall, ASTS ranks 3rd on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of ASTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ASTS and that has 100x 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.