Jim Cramer on Ouster: "It is Fine as a Spec"

Ouster, Inc. (NASDAQ:OUST) is one of the stocks Jim Cramer recently shed light on. Highlighting the company’s role in autonomy tech, strong revenue growth, low debt, and a recent fourfold stock increase, a caller asked for Cramer’s view on OUST. Here’s what he had to say in response:

“You know, look, it’s a LiDAR play, and I’ve been historically against LiDAR. I think it’s a very expensive stock. It is fine as a spec, but when I talk about autonomous, you know, I always come back, once again, to Tesla, and I always will.”

Ouster, Inc. (NASDAQ:OUST) develops and delivers high-resolution lidar sensors and software solutions for use in automotive, industrial, robotics, and smart infrastructure applications. The company offers various products, including scanning and solid-state sensors, as well as platforms supporting perception, traffic management, and safety functions. During July 9’s episode, a caller asked about the company, and Cramer remarked:

“Yeah, you know it’s a LiDAR company… and the LiDAR companies have been losing a fortune. I don’t think that there’s anything investible in, honestly, in autonomous, other than Tesla. Waymo’s not enough, of Alphabet. So I’m going to say no to speculative.”

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Disclosure: None. This article is originally published at Insider Monkey.