On CNBC's “Mad Money Lightning Round,” Jim Cramer said that the quarterly results released by Clover Health Investments Corp (NASDAQ:CLOV) were "not good." Due to the lackluster results, investors would need to be in "pure spec mode," he added.
While the company reported decent revenues, its earnings "were not there," Cramer further stated.
When asked about Amkor Technology Inc (NASDAQ:AMKR), Cramer said that it offers "the right kind of packaging," which is for the semiconductor segment. He added, however, that he prefers Cadence Design Systems Inc (NASDAQ:CDNS).
Cramer further stated that he liked Intel Corp's (NASDAQ:INTC) "burgeoning packaging division," which is under the leadership of Lip-Bu Tan, who used to be the CEO at Cadence Design Systems.
Regarding Ellington Financial Inc (NYSE:EFC), Cramer said that he felt apprehensive recommending stocks of mortgage financing companies. "When I see these mortgage finance companies, I never know what they really own, so I never feel like I can give any good guidance," he explained.
He added that he typically does not recommend these stocks, although they have "very big yields."
Cramer said that BigBear.ai Holdings Inc (NYSE:BBAI) loses money "hand over fist," which is why he does not recommend it.
Price Action:
- Clover Health Investments shares were down 4.78% to close at $3.98 on Friday.
- Shares of Amkor Technology declined by 1.45% to settle at $69.56 on Friday.
- Ellington Financial shares were up 0.82% at $13.57.
- BigBear.ai Holdings shares rose by 2.02% to close at $5.04 on Friday.