Jim Cramer Has This ‘Great Long-Term’ Ride-Hailing Stock on His Radar: ‘I Am a Buyer’

TV Host Jim Cramer has backed ride-hailing giant Uber Technologies Inc. (NYSE:UBER) on Monday, calling it a good long-term stock.

Jim Cramer Says Buy Uber on Lightning Round

On CNBC’s “Mad Money Lightning Round” show, Cramer shared bullish sentiments on Uber, saying that it was “one great long-term stock” and that he would not be “backing away” from the company’s stock. “The answer is, I am a buyer of Uber,” Cramer said on the show.

Uber Backs Drone Deliveries

The recommendation comes as Uber recently announced a partnership with drone delivery company Zipline to expand autonomous food delivery across the U.S. using drones on the Uber Eats platform. Following the announcement, the companies have said they are targeting 1 million drone deliveries per day.

Uber’s Robotaxi Expansion

On the self-driving front, the company has ramped up its Robotaxi efforts, with Uber recently announcing it will expand its offering of self-driving cabs into the Japanese market later this year. The company signed an operational partnership with Japanese fleet operator Hinomaru Kotsu Co. Ltd. to oversee the autonomous fleet operations in Tokyo.

Uber also shared that it plans to deploy over 2,000 Pony AI Inc. (NASDAQ:PONY) Robotaxis across multiple European markets following its existing collaboration in the Croatian capital of Zagreb.

Meanwhile, Co-founder and former Uber CEO Travis Kalanick recently shared that he had no regrets about the company’s failed bid to acquire Lyft Inc. (NASDAQ:LYFT) in 2014. The billionaire cited cultural differences between the two companies as one of the reasons why a deal could not be made.

Price Action: Uber shares dropped 0.12% to $74.90 during overnight trading on Monday.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Photo courtesy: Alex Photo Stock / Shutterstock.com