In a surprising turn of events, Jim Cramer, the host of CNBC’s Lightning Round, expressed his support for Palantir Technologies Inc. (NYSE:PLTR), suggesting a notable shift in his previous opinion.
What Happened: On Monday’s segment of Lightning Round, Cramer indicated a new-found appreciation for the data analytics company.
“That was a dynamite quarter, we got an upgrade today…I disliked these guys for a long time, not anymore…I am on the Palantir team,” he said.
Alongside Palantir, he also expressed positivity towards SoFi Technologies Inc. (NASDAQ:SOFI), Uranium Energy Corp. (NYSE:UEC), Copart, Inc. (NASDAQ:CPRT), and the Blackstone Group Inc. (NYSE:BX). Conversely, Cramer voiced his displeasure with BP PLC. (NYSE:BP), classifying it as “the worst of the lot”.
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Why It Matters: This change in stance comes after Cramer had previously criticized Palantir, even questioning its legitimacy as a company. He had expressed skepticism about Palantir in April, stating that it seemed like a company “made up for semesters.”
Given this context, Cramer’s newfound endorsement of Palantir signifies a significant shift in his perception of the company, potentially indicating an upswing in Palantir’s performance and prospects.
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Photo: Courtesy of Scott Beale on Flickr
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