Jim Cramer’s List of 16 Stocks to Buy Right Now

12. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Holders: 64

Palantir Technologies Inc. (NYSE:PLTR) builds software platforms for big data analytics, primarily serving government and defense clients. As geopolitical tensions with China rise, Cramer believes the defense sector is back in play, and Palantir stands out due to its cult-like following and unique position in the defense-tech ecosystem. Here’s what he said:

“Next, defense is working again! I don’t know, it shouldn’t be given the pullback from Ukraine, right? But I sense maybe we’re embarking on a real build up as tensions heat up with China. I like the permanently favoured Palantir; arguably the number one meme stock of all time, with the CEO who whips people into a frenzy.”

Jim Cramer jokingly called Palantir Technologies Inc. (NYSE:PLTR) a meme stock in a recent appearance on the Squawk on the Street but he still urges against investors shorting the stock. Here’s what he said:

“I agree, and I noticed that “Planter”, as one of my friends called it the other day, I’m shorting Planter because I think Planter, and I’m thinking like Planter, like Planter fasciitis? Palantir, they were trying to say. Palantir is just moving up and moving up. It’s back. It’s making its move. Alex Karp, any minute now, is going to come out and tell us how he’s great and you’re not.”