Jim Cramer, Who Once Trashed Palantir, Says Company Had A 'Dynamite Quarter': 'I Disliked These Guys For A Long Time, Not Anymore'

In a surprising turn of events, Jim Cramer, the host of CNBC’s Lightning Round, expressed his support for Palantir Technologies Inc. PLTR, suggesting a notable shift in his previous opinion.

What Happened: On Monday’s segment of Lightning Round, Cramer indicated a new-found appreciation for the data analytics company.

"That was a dynamite quarter, we got an upgrade today…I disliked these guys for a long time, not anymore…I am on the Palantir team,” he said.

Alongside Palantir, he also expressed positivity towards SoFi Technologies Inc. SOFI, Uranium Energy Corp. UEC, Copart, Inc. CPRT, and the Blackstone Group Inc. BX. Conversely, Cramer voiced his displeasure with BP PLC. BP, classifying it as “the worst of the lot”.

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Why It Matters: This change in stance comes after Cramer had previously criticized Palantir, even questioning its legitimacy as a company. He had expressed skepticism about Palantir in April, stating that it seemed like a company “made up for semesters.”

Given this context, Cramer’s newfound endorsement of Palantir signifies a significant shift in his perception of the company, potentially indicating an upswing in Palantir’s performance and prospects.

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Photo: Courtesy of Scott Beale on Flickr