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Jim Cramer Writes Off Entire Telco, Wireless Industry: 'It's Such A Shame'

Published 22/09/2023, 13:23
© Reuters.  Jim Cramer Writes Off Entire Telco, Wireless Industry: 'It's Such A Shame'
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Benzinga - by Priya Nigam, Benzinga Staff Writer.

On CNBC’s "Mad Money Lightning Round," Jim Cramer said Carpenter Technology Corporation (NYSE: CRS) is a "very, very good company, Philadelphia-area company. Now the stock has had quite a run, I don’t know if I just want to come in and buy it, but you’ve got a winner there." He added, "I have liked that company for many, many years."

When asked about Golar LNG Limited (NASDAQ: GLNG), he said, "Honestly, if you’re going to be in LNG, just go to Coterra Energy Inc. (NYSE: CTRA)."

Aehr Test Systems (NASDAQ: AEHR) is a "very interesting testing company," Cramer said. "I would rather see you in Emerson, as a matter of fact, I think it’s a better situation."

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The "Mad Money" host said Harmonic (NASDAQ: HLIT) is in "telco and wireless and that is just not where you can be. It’s such a shame that we just kind of, that I’ve kind of written off a whole industry, but I have to be careful, that industry is not doing well."

When asked about SoFi Technologies, Inc. (NASDAQ: SOFI), he said, "I think, if anything, I’m a buyer, not a seller."

Cramer said Watsco, Inc. (NYSE: WSO) is a "very, very good company."

Price Action: Shares of Watsco fell 2.8% to close at $346.47, while SoFi Technologies lost 4.5% to $7.95 on Thursday. Harmonic shares gained 0.3% to settle at $9.57, while Aehr Test Systems fell 6.2% to close at $42.56 on Thursday. Golar LNG shares slipped 0.7% to settle at $23.07, while Coterra Energy declined 3.1% to close at $26.10 during Thursday’s session. Carpenter Technology shares rose 0.5% to close at $68.79 on Thursday.

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Now Read This: Top 4 Health Care Stocks That Could Lead To Your Biggest Gains In Q3

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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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