Was Jim Cramer’s Call Right on These 10 Stocks?

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1. Snap Inc. (NYSE:SNAP)

Number of Hedge Fund Holders: 44

Snap Inc. (NYSE:SNAP), the social media company best known for Snapchat, had just posted a weak quarter at the time of the episode. Cramer gave a cautious outlook for the stock in the near term:

“All right Snapchat did not have a good quarter. You do not have much luxury here, you got about 3 weeks to make a move. If it bounces here if you can get it out of $12, $13 that’s what I prefer. Probably has a couple points downside from here.”

Snap Inc. (NYSE:SNAP) has fallen by 14.45% since the episode, validating Cramer’s cautious take after a disappointing quarter.

Cramer has been bearish on Snap Inc. (NYSE:SNAP) for a while now. On the 14th of March, the host of Mad Money indicated the reasons behind the stock’s downfall and its recent change in CEO:

“They did too much stock-based compensation. They didn’t get the balance sheet right… I mean, there’s a possibility they make some money. I got an idea for them, new CEO. By the way, there’s no crime in that. You just swallow your pride and you just say, hey, you know what, I’m gonna let someone else do it.”

While we acknowledge the potential of SNAP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SNAP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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