Jim Cramer Thoughts on 8 Stocks As He Discussed Market Froth

6. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Holders: 64

Cramer noted that Palantir Technologies Inc.’s (NYSE:PLTR) CEO, Alex Karp, is skilled at creating excitement around the company with his media presence. Cramer highlighted Karp’s tendency to downplay issues, like the slowdown in Europe, by blaming it on external factors.

He also mentioned Karp’s high-profile book tour, joking that he hopes Karp, like Elon Musk, can balance business with his promotional activities. He then added:

“But Palantir’s stock is getting clobbered because it just had a parabolic move and right now this data analytics company needs a huge noisy client win. Karp needs fellow promoter, Elon Musk to hire Palantir to reform the Pentagon. This stock rallied to $125 at its highest last week. It’s now at $90 and change. Is this an all the king’s horses stock? No, not at all. It’s just that something needs to happen good at Palantir, some big contracts, some big win, not just a book tour. Anything that can reset the narrative because the potty mouth, CEO is saying that, that he’s all about lethality and ontology… I’m sure that if you hire Palantir, it’s like hiring the Spartans and your company’s opponents are gonna dine in hell. Very compelling stuff but it doesn’t tell you much about the earnings power, which is what I care about.”

Palantir (NYSE:PLTR) creates software platforms specializing in complex data integration and decision-making, catering to both government and intelligence sectors as well as commercial clients. The company offers a range of products, including Gotham, Foundry, Apollo, and its advanced Artificial Intelligence Platform (AIP), all aimed at assisting organizations in managing and interpreting large volumes of data.