Cramer 'Takes A Pass' On Stock That's Down 31% Over Past 6 Months: 'Don't Want To Go Against Musk'

On CNBC’s "Mad Money Lightning Round," Jim Cramer said Devon Energy Corporation DVN is an oil company, and right now, "oil is just, it’s in glut. We can’t own a commodity stock where the commodity is in glut."

"Let’s take a pass on that one," Cramer said when asked about Lithium Americas Corp. LAC. "I don’t want to go against [Elon] Musk."

Lithium Americas’ shares have dipped around 31% over the past six months.

Pure Storage, Inc. PSTG is an "up or down company. They either blow the numbers away or they don’t do the numbers. That’s too hard for me," Cramer said.

Don’t forget to check out our premarket coverage here

When asked about APA Corporation APA, he said, "I’m not recommending any oil stock right now, except for Coterra Energy Inc. CTRA, which is more natural gas than oil."

The "Mad Money" host said Grifols, S.A. GRFS is "way too controversial for me. I mean, I’m talking about what I describe as a battleground between longs and shorts. Those are too hard."

Grifols' shares fell off a cliff on Jan. 9 after Gotham City Research alleged that the pharmaceutical company's financials were misleading.

Price Action

• Shares of Grifols gained 6.3% to close at $9.25
• Coterra fell 1.5% to $25.37 on Wednesday.
• APA fell 1.2% to settle at $32.57
• Pure Storage fell 1.7% to $36.65 during Wednesday’s session.
• Lithium Americas shares lost 1.8% to settle at $5.87
• Devon Energy fell 1.9% to $43.94 on Wednesday.

Now Read This: How To Earn $500 A Month From Bank of America Stock Ahead Of Q4 Earnings Report

Image: Shutterstock