Was Jim Cramer Right About Archer Aviation Inc. (ACHR)?

We recently published a list of Was Jim Cramer Right About These 11 Stocks? In this article, we are going to take a look at where Archer Aviation Inc. (NYSE:ACHR) stands against other stocks that Jim Cramer discusses.

In that older episode, a caller asked about Archer Aviation Inc. (NYSE:ACHR) and Joby Aviation Inc. (NYSE:JOBY), wondering whether to hold Archer or switch to Joby. Cramer dismissed both, urging the caller to focus on more established companies:

“What? No. Go buy Walmart or something. Go buy a real company. I mean, we’ve got to step up our game here. […] We’re not going to be in the Archer and the Joby — we’re going to be in the Walmarts, the real good ones.”

Cramer missed big here since Archer has skyrocketed 219.92% after he dismissed it. Archer Aviation Inc. (NYSE:ACHR) is developing eVTOL aircraft aimed at reshaping short-haul transportation through urban air mobility solutions.

Cramer now thinks Archer went a “little bit too far” with its recent surge and prefers another stock. Here’s what he said when asked about it on the 16^th of May:

“Oh, that one’s a bridge too far for me to tell you the truth. Electric vertical takeoff, I mean, I’m willing to go with Rocket Lab, but Archer’s just a little bit too far. I mean, someone who’s like 18, 19, 20, 21, you might want to believe in it. I don’t want to have too many of these kinds of stocks on my so-called recommended list.”

Overall, ACHR ranks 8th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of ACHR 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 AI stock that is more promising than ACHR and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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