Jim Cramer Says Buy Largest IPO Of 2023 Now, And Buy Some More 'Below 50'

Author: Lisa Levin | September 29, 2023 09:51am

On CNBC’s "Mad Money Lightning Round," Jim Cramer said he likes Arm Holdings plc (NASDAQ:ARM) very much. "Buy some Arm now, and buy some Arm below 50. I think Rene Haas is terrific," he added.

Arm made its market debut on Sept. 14 with the year's largest IPO, valued at $54.5 billion.

Cramer said Astronics Corporation (NASDAQ:ATRO) is in "aerospace, and right now Boeing is pulling them all down… I would hold onto Astronics."

"It hasn’t been that well-run," Cramer said when asked about Verizon Communications Inc. (NYSE:VZ). "If I were on the board of directors, let me just say, let’s say this: I would have to do some hard think about what’s going on."

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The "Mad Money" host said GE HealthCare Technologies Inc. (NASDAQ:GEHC) is a "buy, it’s coming back, it looks like it’s headed to 75." The company’s shares have gained around 25% year-to-date.

Cramer recommended buying Marvell Technology, Inc. (NASDAQ:MRVL). "I think Matt Murphy is doing a terrific job, I think they’ve got a tremendous product," he added.

Price Action: Shares of Marvell gained 2.8% to close at $54.00, while GE Healthcare added 2.2% to $69.78 on Thursday. Astronics shares gained 1.3% to settle at $16.06, while Arm Holdings climbed 4.7% to close at $55.49 on Thursday. Verizon shares gained 0.5% to settle at $32.55 on Thursday.

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Posted In: ARM ATRO GEHC MRVL VZ