Jim Cramer on Recursion Pharmaceuticals: "Now, It's a Meme Stock"

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is one of the stocks Jim Cramer was focused on recently. A caller asked if the stock lives up to the hype or if it is too speculative. Cramer replied:

“Okay, I had Recursion on when they were 9, 10. They did an equity offering. The stock got clobbered. It’s been down. Now, it’s a meme stock, and I can predict, unfortunately, that when it’s a meme stock, it’s going to go up every day. They’ve adopted this stock. They want to take it higher. I don’t know why, but that’s what they say. And I say they, I’m saying, I see they’re buying early on in the morning. That’s what’s going to happen.”

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is a biotech company that uses automation, data science, and AI to accelerate drug discovery. The company develops treatments for genetic, infectious, and cancer-related diseases. When a caller inquired about the stock during the September 25 episode, Cramer replied:

“I don’t know. It’s been such a dog. It’s been a dog, we had them on, twice the price. It’s done absolutely nothing. I need to see a proof of concept here. I absolutely know that NVIDIA’s in it, but you know what? This, this, this stock has been a bad stock. We need to see something good before I tell you I would put any money in it.”

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