Jim Cramer Looks At Blackstone, Praises MercadoLibre: 'They're Incredibly Smart'

On CNBC’s "Mad Money Lightning Round," Jim Cramer said Freeport-McMoRan Inc. FCX could go higher by a "couple of points, once the Chinese start manipulating their market higher, but that’s all you’re going to get from them. We have to go higher quality."

Freeport-McMoRan confirmed that Kathleen L. Quirk as its incoming president and CEO. The decision will be effective as of June 11.

AbbVie Inc. ABBV is a "very good" company, the "Mad Money" host said.

AbbVie announced that its treatment for advanced Parkinson's disease is now available in Canada.

Cramer said he was an original investor in MercadoLibre, Inc. MELI, and has never once abandoned it. "Those people are incredibly smart," he added.

MercadoLibre, during November, reported better-than-expected third-quarter financial results.

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When asked about Oxford Lane Capital Corp. OXLC, he said, "We don’t know if they’re any good at credit, and we don’t know what they own. I like the concept, and in that sense, I think I would look at Blackstone BX, because they really know how to do it."

Oxford Lane Capital issued net asset value update for January. Management’s unaudited estimate of the range of the NAV per share of common stock as of Jan. 31, 2024 is between $4.92 and $5.02.

Price Action:

• Shares of Oxford Lane Capital gained 1.3% to close at $5.39 on Thursday.
• AbbVie shares fell 0.1% to $174.79 on Thursday.
• MercadoLibre shares rose 1.1% to settle at $1,732.83 during Thursday’s session.
• Shares of Freeport-McMoRan fell 2.8% to close at $38.12 on Thursday.

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