Was Jim Cramer Right About These 11 Stocks?

3. AST SpaceMobile, Inc. (NASDAQ:ASTS)

Number of Hedge Fund Holders: 22

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.

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.”