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Jim Cramer picks 3 stocks he likes right now 

Jim Cramer picks 3 stocks he likes right now 

Jim Cramer, former hedge fund manager and Mad Money host, has singled out three stocks he believes have strong upside potential.

In an August 4 post on X, Wall Street’s leading “inverse indicator” mentioned Palantir (NASDAQ: PLTR), Shake Shack (NYSE: SHAK), and Cloudflare (NYSE: NET) as his current picks.

Although Cramer did not elaborate on why he chose those three stocks specifically, he has talked about them on a number of occasions in the recent weeks, so his stance is hardly surprising in hindsight.

Why Palantir, Shake Shack, and Cloudflare?

Palantir is Cramer’s least surprising pick. The software giant is once again in the spotlight after delivering exceptional second-quarter results, including revenues topping $1 billion. As a result, the company’s stock surged more than 4% following the news, adding fuel to a 500% rally over the past year. 

The CNBC host has been bullish on Palantir for a long time, and now predicts the stock could hit $200, implying a roughly 24% upside from the current price action.

During the July 31 episode of Mad Money, Cramer also discussed Shake Shack, acknowledging its recent 14% decline but expressing faith in its fundamentals, which he believes will remain strong under the guidance of CEO Rob Lynch.

“I’ve always felt that what matters is not the monthly number or the quarter number but the cadence. The social for your company is extraordinary! I do think that people should recognize that there is a value proposition in here,” Cramer said during his discussion with Lynch.

In a previous Squawk on the Street segment, Cramer emphasized Lynch’s impact even further, crediting him for revitalizing the brand and putting it back on a growth trajectory. 

As for Cloudflare, Cramer has been silent about the stock since July 15, when he discussed it with a caller during his show. He called the company “brilliant,” saying he’d been behind it “for about 120 points” and calling CEO Matthew Prince “as good as it gets.”

Cloudflare also beat second-quarter expectations, reporting $512.3 million in revenue, which translates to a 28% increase year-over-year.

Featured image via Shutterstock

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