Jim Cramer Says This Real Estate Stock Is 'Done Going Down, That's A Gutsy Call By Me' - AvalonBay Commun

On CNBC’s "Mad Money Lightning Round," Jim Cramer says Wolfspeed, Inc. (NYSE:WOLF) is "losing too much money" and referred to the semiconductor manufacturer as a "second-rate player."

The Durham, N.C.-based company reported second-quarter losses of 55 cents per share. It beat the analyst consensus estimate of losses of 66 cents, but marked a 400% decrease over losses of 11 cents per share from last year.

Wolfspeed reported revenue of $208.4 million, beating analyst expectations of $206.36 million, marking a 3.56% decrease over sales of $216.1 million from last year.

Cramer also blamed PureCycle Technologies, Inc. (NASDAQ:PCT) for not making money.

PureCycle recently issued an update for its Ironton production facility. In the last two weeks, it produced 183,000 pounds of pellets, the company claims.

Cramer recommends buying AvalonBay Communities, Inc. (NYSE:AVB). "I think AvalonBay right here is done going down, that’s a gutsy call by me," he added.

AvalonBay Communities posted in-line earnings for its fourth quarter.

When asked about Herbalife Ltd. (NYSE:HLF), he said, "No, no. We got to step up our game."

Herbalife appointed Stephan Gratziani as President, effective Jan. 2, 2024.

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The "Mad Money" host recommended buying Otter Tail Corporation (NASDAQ:OTTR).

Otter Tail raised its quarterly common stock dividend from 43.75 cents to 46.75 cents per share.

Cramer said Liberty Energy Inc. (NYSE:LBRT) is a good company and recommended sticking with it. "Very inexpensive stock, don’t really get it," he added.

Liberty Energy recently reported weaker-than-expected results for its fourth quarter.

Cramer recommended buying Palantir Technologies Inc. (NYSE:PLTR).

Palantir Technologies reported better-than-expected fourth-quarter results.