Cramer Says Sprout Social Is In A 'Hot Spot,' But This Energy Stock Is 'Too Down And Out'

Author: Avi Kapoor | March 08, 2024 10:13am

On CNBC’s "Mad Money Lightning Round," Jim Cramer said he needs to do more work on Sprout Social, Inc. (NASDAQ:SPT) as it is in a "hot spot, but the stock is not making money. And because the company’s not making money, I have said no. But that doesn’t mean I can be totally closed minded, because they’re supposed to have an earnings breakout."

On Feb. 20, Sprout Social posted better-than-expected fourth-quarter sales results.

MannKind Corporation (NASDAQ:MNKD) has been "hanging out there forever, and it’s finally starting to look like it’s going to have an earnings breakout, but I am one of those people who’s jaundiced about it. I got to wait to see if they come up with something," Cramer said.

On Feb. 27, MannKind reported upbeat sales for the fourth quarter.

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When asked about Riot Platforms, Inc. (NASDAQ:RIOT), Cramer said he would rather just own Bitcoin (CRYPTO: BTC) or the Ethereum ETF that’s going to be coming.

On March 5, Riot issued production and operations updates for February 2024.

The "Mad Money" host said Transocean Ltd. (NYSE:RIG) is "too down and out." He said if you want to buy anybody in that space, buy SLB (NYSE:SLB), or Halliburton (NYSE:HAL), or just buy nobody.

On Feb. 19, Transocean posted a narrower-than-expected quarterly loss.

"They over expanded. I was upset that they did that, because it’s such a good brand. They seem to have gotten a little more religion, and they’re slowing things down, and that is going to make it so it’s a stock to own," Cramer said about Dutch Bros Inc. (NYSE:BROS).

On Feb. 28, Dutch Bros announced the pricing of its secondary public offering of 8 million shares of Class A common stock at $29.05 per share.

"The stock ran, and it did this one and a quarter convertible senior note, and it crushed the stock. I don’t blame the people wanting to have that money at that price, but that’s what hurt it," Cramer said about SoFi Technologies, Inc. (NASDAQ:SOFI). "And I still believe."

On March 5, SoFi priced its private offering of 1.25% convertible senior notes due 2029 in an aggregate principal amount of $750 million.

Price Action:

• Shares of Sprout Social fell 0.2% to close at $58.96 on Thursday.
• MannKind shares gained 7.3% to close at $5.15 on Thursday.
• Riot Platforms shares fell 1.2% to settle at $11.97.
• Dutch Bros shares fell 0.5% to settle at $29.92 on Thursday.
• Transocean shares gained 0.2% to close at $5.15 on Thursday.
• Shares of SoFi gained 1% to settle at $7.47.

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Posted In: $BTC BROS HAL MNKD RIG RIOT SLB SOFI SPT