Jim Cramer Recommends Buying This Sports Betting Company's Stock: 'I Think It's Terrific'

Zinger Key Points
  • Jim Cramer says DraftKings is "terrific."
  • I don’t like to be betting behind losing horses," Cramer on MP Materials.
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On CNBC's “Mad Money Lightning Round,” Jim Cramer recommends buying sports betting company DraftKings Inc. DKNG, proclaiming, “I think it's terrific.”

On May 2, DraftKings reported first-quarter revenue of $1.18 billion, up 53% year-over-year. The revenue total beat a Street consensus estimate of $1.12 billion, according to data from Benzinga Pro.

The global online sports betting market size had a value of roughly $54.6 billion in 2023. It’s projected to exceed $142 billion by 2032, per Zion Market Research.

Cramer also called Accenture plc ACNtoo low.”

On May 15, Deutsche Bank analyst Bryan Keane downgraded Accenture from Buy to Hold and lowered the price target from $409 to $295.

When asked about Ouster, Inc. OUST, Cramer said, “I can't go there, because I'm not recommending stocks where they just have not been able to even get near a profit.”

On May 9, Ouster reported better-than-expected financial results for the first quarter.

The “Mad Money” host he needs to do work on Vistra Corp. VST as “this thing has been such a rocket ship. I cant' just say it's moved to much. I've got to learn it better.”

On May 8, Vistra posted results for the first quarter, recording quarterly sales of $3.054 billion versus market expectations of $2.778 billion.

MP Materials Corp. MP has been “disappointing,” Cramer said. “I don't like to be betting behind losing horses.”

On May 2, MP Materials posted mixed results for its first quarter, reporting adjusted loss of 4 cents per share, wider than market expectations for a loss of 2 cents per share.

Boston Scientific Corporation BSX is just “doing so well, they have an amazing cardio franchise,” Cramer said, “It is just fantastic.”

On April 24, Boston Scientific reported better-than-expected first-quarter earnings and issued guidance.

Price Action:

  • Accenture shares fell 0.2% to settle at $308.00 on Thursday.
  • Ouster shares fell 3.6% to close at $11.66.
  • Vistra shares declined 3.9% to settle at $93.14 on Thursday.
  • DraftKings shares fell 2.6% to settle at $44.97.
  • MP Materials shares rose 0.8% to close at $18.08 on Thursday.
  • Boston Scientific shares gained 0.1% to settle at $74.55.

Read Next: Top 5 Utilities Stocks You May Want To Dump In May

Image: Shutterstock

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