This Is A Meme Stock

On CNBC's “Mad Money Lightning Round,” Jim Cramer said SoundHound AI (NASDAQ:SOUN) is a meme stock.

“I'm never going to get in the way of a meme stock because you never know how high they can go,” he added.

Shares of SoundHound AI rose sharply on Tuesday following the announcement of a collaboration with Rekor Systems, Inc. (NASDAQ:REKR). The partnership between SoundHound AI and Rekor Systems will integrate SoundHound's voice AI with Rekor's vehicle recognition software, Rekor Scout, to enhance emergency vehicle technology.

Buy This Tech Stock

Cramer recommended buying Lam Research Corporation (NASDAQ:LRCX), noting that the stock is “so cheap.”

Supporting his view, Keybanc analyst Steve Barger, on Jan. 17, upgraded Lam Research from Sector Weight to Overweight and maintained the price target of $95.

Energy Stocks In Focus

Enterprise Products Partners L.P. (NYSE:EPD) is his “absolute favorite” of the group, Cramer said. “I think you've just got to just stand there and buy it.”

Adding support to his choice, Truist Securities analyst Neal Dingmann, on Jan. 3, maintained Enterprise Products Partners with a Buy rating and boosted the price target from $37 to $40.

The “Mad Money” host said he is not an oil guy here, when asked about Chord Energy Corporation (NASDAQ:CHRD).

Analysts, including, Piper Sandler and Wells Fargo also slashed their price targets for the stock on Jan. 15. Piper Sandler analyst Mark Lear lowered the price target from $194 to $193, while Wells Fargo analyst Hanwen Chang cutthe price target from $176 to $175.

Price Action:

• SoundHound shares gained 0.1% to settle at $16.40 on Thursday.
• Lam Research shares fell 2.4% to close at $81.23 during the session.
• Enterprise Products Partners shares fell 0.4% to close at $33.67.
• Chord Energy shares slipped 1.1% to settle at $120.74 on Thursday.

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• Jim Cramer Says This Tech Stock Is Speculative But He Likes It

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