Jim Cramer: This Tech Stock Is 'Absolutely Terrific,' But Jumia? It's Not Making A Lot Of Money

Author: Avi Kapoor | July 25, 2024 09:00am

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Jumia Technologies AG (NYSE:JMIA) is not making a lot of money.

The company will release results for the second quarter before the opening bell on Tuesday, Aug. 6.

Benchmark analyst Fawne Jiang initiated coverage of Jumia’s stock on July 9 with a Buy rating and a $14 price target. The African e-commerce company is poised to benefit from multi-year and potentially multi-decade e-commerce growth in the region.

See Also: Jim Cramer Recommended This Bank A Month Before It Collapsed, An Example Of ‘His Reverse Midas Touch’

When asked about Adeia Inc. (NASDAQ:ADEA), he said, “I would actually put Trade, TTD, which was down very badly today off of Alphabet, and I think that's the one you want to buy.”

Adeia will announce its financial results for the second quarter on Tuesday, Aug. 6, after the closing bell. Analysts expect the company to report quarterly earnings at 23 cents per share on revenue of $84.25 million.

The “Mad Money” host said he likes Broadcom Inc. (NASDAQ:AVGO). “I think it's absolutely terrific. It's going to get hammered along with the rest of the rotation,” he added.

On July 17, Cantor Fitzgerald analyst C J Muse maintained Broadcom with an Overweight rating, while adjusting target to $200 from $2,000 (10-1 stock split).

“I've always been a believer in the gold stocks,” Cramer said when asked about Hecla Mining Company (NYSE:HL). “It's not always worked out, but right now it is. Yours is good.”

Hecla Mining will release its second quarter operational and financial results after the closing bell on Aug. 6. Analysts expect the company to report quarterly earnings at 4 cents per share on revenue of $219.2 million.

Cramer recommended buying AeroVironment, Inc. (NASDAQ:AVAV). “All I know is that drones work,” he noted.

On July 23, René Carbone Bardorf joined AeroVironment (AV) as Vice President of Marketing and Communications.

Price Action:

• Adeia shares fell 3.6% to settle at $11.38 on Wednesday.
• Hecla Mining shares fell 1% to settle at $5.88.
• Jumia dipped 11.3% to close at $12.24 during Wednesday's session.
• AeroVironment shares slipped 0.7% to settle at $170.31.
• Broadcom shares fell 7.6% to settle at $151.34 on Wednesday.

Read Next:

• Nvidia, McDonald’s And 2 Other Stocks Insiders Are Selling

Posted In: ADEA AVAV AVGO HL JMIA