On CNBC’s "Mad Money Lightning Round," Jim Cramer recommended buying shares of Reddit, Inc. (NYSE: RDDT), describing the stock as "inexpensive." This commentary came ahead of the company's scheduled release of third-quarter financial results, which is set for after the closing bell on Thursday, October 29.
Cramer also addressed other market names during the segment. Regarding energy stocks, he stated that while ExxonMobil Holdings Corporation (NYSE: XOM) is a solid choice, Chevron Corporation (NYSE: CVX) is preferable. He noted that Enterprise Products Partners L.P. (NYSE: EPD) is a good option for exposure to natural gas liquids, suggesting that investors take advantage of the stock as it is being unfairly penalized by the market.
In contrast, Cramer characterized SiTime Corporation (NASDAQ: SITM) as "expensive" and stated he is not recommending such stocks in the technology sector. He also highlighted Corning Incorporated (NYSE: GLW) as the best among a group of peers including Coherent Corp. (NYSE: COHR) and Lumentum Holdings Inc. (NASDAQ: LITE).
Regarding Valero Energy Corporation (NYSE: VLO), Cramer labeled it the "riskiest trade in the world," describing it as a "double or nothing" proposition from its current level.
On the price action side, Reddit shares gained 7.2% to settle at $159.36 on Thursday. SiTime shares dipped 4.5% to close at $501.59, while Valero fell 3.4% to $444.06.
