On CNBC's “Mad Money Lightning Round,” Jim Cramer said Critical Metals Corp. (NASDAQ:CRML) is a spec. “If you really want to be in that industry, you need to buy MP Materials (NYSE:MP),” he added.

According to recent news, the company announced on Tuesday a private placement of ordinary shares for gross proceeds of $60 million.

“We cannot be in SoundHound (NASDAQ:SOUN),” Cramer said.

On the earnings front, SoundHound AI is expected to report first-quarter financial results on May 7.

Cramer said he was surprised as Rivian Automotive (NASDAQ:RIVN) reported a good last quarter. “It looks like they're gonna make it, and if they're gonna make it, then the stock goes,” he added.

Rivian Automotive announced on April 14 a partnership with Redwood Materials to deploy a battery energy storage system at its manufacturing facility.

When asked about Insulet Corporation (NASDAQ:PODD), he said, “This is the biggest decline of any stock in the health care group. And I looked at it today [on Thursday] to see if I can recommend it, but it's still too expensive because the GLP-1 threat.”

On April 7, Citigroup analyst Joanne Wuensch downgraded Insulet from Buy to Neutral and lowered the price target from $338 to $230.

Price Action:

  • Critical Metals shares dipped 10.3% to settle at $10.64 on Thursday.
  • SoundHound shares fell 4.9% to settle at $7.82 on Thursday.
  • Rivian Automotive shares fell 4.5% to close at $16.95.
  • Insulet shares fell 0.7% to settle at $192.21 on Thursday.

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