Jim Cramer Likes A Casino CEO Board Member Of AppLovin Corporation (APP)

We recently published 10 Stocks That Were On Jim Cramer’s Radar As He Warned “It’s Too Early” To Buy. AppLovin Corporation (NASDAQ:APP) is one of the stocks Jim Cramer recently discussed.

AppLovin Corporation (NASDAQ:APP) is one of Cramer’s favorite stocks. It’s part of the group that he’s dubbed ‘PARC’. These stocks include Palantir, AppLovin, Robinhood, and Coinbase. AppLovin Corporation (NASDAQ:APP)’s shares have gained 43% year-to-date as the firm has benefited from its strong business model, which enables advertisers to run their ads in video games. AppLovin Corporation (NASDAQ:APP)’s shares jumped by 12% in August after the firm’s Q2 EPS of $2.39 beat analyst estimates of $2.03, and its CEO pointed out that it could see higher spending from app developers due to the fallout between Apple and Epic Games. During this episode, Cramer pointed out that Wynn Resorts CEO Craig Billings is also on AppLovin Corporation (NASDAQ:APP)’s board:

“He’s also on the board of AppLovin by the way, which makes me feel like AppLovin’s okay.”

Earlier, Cramer highlighted his PARC stocks, which include AppLovin Corporation (NASDAQ:APP):

“PARC exhausts me. I’m talking about my handy acronym for Palantir, AppLovin, Robinhood, and Coinbase. These are four of the many stocks that seem to have no quit in them, even if they all pulled back hard into the close today, giving us a rare moment to evaluate them on relative weakness. It’s better for me to talk about these stocks on a down day so you can get a discount if you were so inclined…

Now, even though I say PARC, these four stocks are just representatives of what’s been going on in this market. They’re actually the best of the lot. They have earnings. They have analysts following them who come up with estimates. Although judging by the way people have been buying these names, neither of them, those things like estimates and analysts, seems to matter at all…

While flying cars and experimental batteries don’t yet make money, PARC does, lots of it, oodles. Palantir, AppLovin and Robinhood, and Coinbase, they’re all pretty darn profitable. By comparison, during the dot-com era, most of these red-hot companies had little to no revenues and were actually running out of money, constantly tapping the public markets, at the same time that insiders were furiously [sell, sell, sell] their own stock because they knew there was no justification for these sky-high valuations. They got out.”

While we acknowledge the potential of APP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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