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., 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. 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.”
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This article is originally published at Insider Monkey.
