Jim Cramer Likes Crown Castle, But Can't Recommend Archer Aviation: It Has 'No Earnings Power'

CNBC’s Jim Cramer can’t recommend Archer Aviation Inc. ACHR. It just has "no earnings power," he said, adding, "There’s so many good stocks right now, we don’t need that."

On Feb. 26, Archer Aviation reported worse-than-expected fourth-quarter financial results. The company reported quarterly losses of 34 cents per share which missed the analyst consensus estimate of losses of 28 cents by 21.43% and represents a 12.82% increase over losses of 39 cents per share from the same period last year. Archer Aviation expects non-GAAP operating expenses of $75 million to $95 million for the first quarter of 2024.

"I think that that Greyhound bus has left the station, and I got to wait," Cramer said on Thursday's "Mad Money Lightning Round" reffering to Robinhood Markets, Inc. HOOD.

"I mean, the thing just doubled in no time whatsoever," Cramer said. "We don’t buy doubles here."

Robinhood Markets recently unveiled the Robinhood Gold Card at its first-ever keynote event this week. Co-founder and CEO Vlad Tenev explained the company’s strategy following the event.

The "Mad Money" host recommended not selling Cummins Inc. CMI.

On March 25, JPMorgan analyst Tami Zakaria maintained Cummins with an Underweight and raised the price target from $245 to $275.

Cramer said he would buy some more Crown Castle Inc CCI stock at this level with a 6% yield. "I think it’s a good idea, and I haven’t felt that way about Crown Castle in ages," he added.

On Jan. 24, Crown Castle reported better-than-expected results for its fourth quarter.

Price Action:

• Shares of Archer Aviation fell 1% to close at $4.74 on Wednesday.
• Robinhood shares gained 3.8% to close at $20.01.
• Cummins shares gained 1% to settle at $294.69 on Wednesday.
• Crown Castle shares gained 3.6% to close at $105.59 during Wednesday’s session.

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