Jim Cramer On USA Rare Earth: 'They're All Speculative' — But Trump Could Take A Stake
Avi Kapoor 1 year ago
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Cramer says no to Remitly, prefers traditional bank. JMP Securities maintains Market Outperform for Remitly and lowers price target. Cramer dislikes Upbound Group. USA Rare Earth CEO in talks with White House. Remitly and Upbound Group shares decline, USA Rare Earth shares gain.
On CNBC's “Mad Money Lightning Round,” on Monday Jim Cramer said no to Remitly Global, Inc. (NASDAQ:RELY). “I'd rather just be in a traditional bank,” he added.
JMP Securities analyst David M. Scharf, on Sept.15, maintained a Market Outperform rating for Remitly Global and lowered the price target from $32 to $23.
Cramer said he doesn't like Upbound Group, Inc. (NASDAQ:UPBD).
According to recent news, Upbound Group declared a quarterly cash dividend of 39 cents per share for the fourth quarter on Sept. 18.
When asked about USA Rare Earth, Inc. (NASDAQ:USAR), he said. “We did a piece last week on rare earth companies, and we said that they're all speculative, but we recognize that the president, at any given moment, could take a stake. I am going to say that this fits that pattern.”
The company's CEO, Barbara Humpton, told CNBC last week that the company is in regular talks with the White House, sparking speculation about a possible deal. “We are in close communication with the administration,” Humpton said in response to a question on whether USA Rare Earth was interested in a deal.
Price Action:
- Remitly shares fell 2% to settle at $15.72 on Monday.
- Upbound Group shares declined 3.1% to settle at $22.03 on Monday.
- USA Rare Earth shares gained 1.4% to settle at $26.32.
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