Jim Cramer Says Buy Largest IPO Of 2023 Now, And Buy Some More 'Below 50'

Zinger Key Points
  • Jim Cramer recommends buying Arm Holdings and praises CEO Rene Haas.
  • Cramer advises holding Astronics, critiques Verizon, and endorses Marvell Technology.

On CNBC’s "Mad Money Lightning Round," Jim Cramer said he likes Arm Holdings plc ARM very much. "Buy some Arm now, and buy some Arm below 50. I think Rene Haas is terrific," he added.

Arm made its market debut on Sept. 14 with the year's largest IPO, valued at $54.5 billion.

Cramer said Astronics Corporation ATRO is in "aerospace, and right now Boeing is pulling them all down… I would hold onto Astronics."

"It hasn’t been that well-run," Cramer said when asked about Verizon Communications Inc. VZ. "If I were on the board of directors, let me just say, let’s say this: I would have to do some hard think about what’s going on."

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The "Mad Money" host said GE HealthCare Technologies Inc. GEHC is a "buy, it’s coming back, it looks like it’s headed to 75." The company’s shares have gained around 25% year-to-date.

Cramer recommended buying Marvell Technology, Inc. MRVL. "I think Matt Murphy is doing a terrific job, I think they’ve got a tremendous product," he added.

Price Action: Shares of Marvell gained 2.8% to close at $54.00, while GE Healthcare added 2.2% to $69.78 on Thursday. Astronics shares gained 1.3% to settle at $16.06, while Arm Holdings climbed 4.7% to close at $55.49 on Thursday. Verizon shares gained 0.5% to settle at $32.55 on Thursday.

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