Jim Cramer Says "You Need to Have More Car Sales" Before You Can Say "It's Time to Load the Boat Up" on Sirius

Sirius XM Holdings Inc. (NASDAQ:SIRI) is one of the stocks Jim Cramer recently talked about. When a caller inquired about the stock, Cramer commented:

“Alright, look, I think it’s just, it does, you need to have more car sales. You need to have more growth in used cars. You need to have that before you can just say, you know what, it’s time to load the boat up [on] Sirius. And that’s the problem.”

Sirius XM Holdings Inc. (NASDAQ:SIRI) provides subscription-based audio entertainment, including music, talk, sports, and podcasts, through satellite radio and streaming platforms. During the March 11 episode, a caller showed bullish sentiment toward the stock, and Cramer responded:

“No, I’m going to disagree with you on this one. Plus, you know, it is related to autos, and autos aren’t selling well right now. And that’s going to be—everyone’s going to know that. I just told it to you right now, everyone’s going to know that. We’re going to stay away from Sirius. It’s just not a serious stock at this point.”

It is worth noting, that the company’s stock is down over 7.5% since the above comment was aired.

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