Palantir Technologies Inc (PLTR)

[mick]

Palantir Technologies Inc (NYSE:PLTR) ranks 6th in the list. Click to see the full list of 11 stocks Cramer is bearish on. In this article we will take a deeper look at PLTR and find out whether Cramer’s thesis holds any weight.

Jim Cramer in a latest program said the “bulls” want the economy to slow down, they want rate cuts as well as a strong demand so that “their companies” won’t have to worry about the yield curve and macroeconomic situation. Cramer highlighted that all of this is confusing, as it’s not possible to have a weaker economy and yet see companies make a lot of money. Cramer also pointed to the latest data showing slowing manufacturing activity. The Institute for Supply Management’s manufacturing purchasing managers index fell to 48.7 in May from 49.2 in April, while analysts were expecting the index to jump to 49.5. Cramer said that the economic activity in the manufacturing sector contracted for the 18th time in the last 19 months. Cramer said the new orders contraction in May was a “little over frightening.”