CNBC’s Jim Cramer urges investors to cash out of speculative stocks. “It’s a good time to ring the register” on high-risk companies, said Cramer on ” Squawk on the Street ” on Thursday morning. “I just called a top in speculation because I can’t take it anymore.” Cramer has become critical of the cohorts in categories like nuclear, quantum computing, flying car developers, and even some health care stocks. Instead, he wants investors to focus on quality, profitable names — such as Nvidia , for example — over unprofitable organizations with massive growth in short periods. We have so many stocks that are up 200% or 300% that we just have to say ‘Listen, those are going lower.’ And, they should go lower because you should sell them,” explained Cramer. His initial warning about speculative stocks came during Wednesday evening’s ” Mad Money ” after Federal Reserve Chairman Jerome Powell said the day before that “by many measures, for example, equity prices are fairly highly valued.” OKLO YTD mountain Oklo YTD Oklo is a “classic example,” Cramer said. Earlier this year, shares of the nuclear developer fluctuated between $20 and $30 per share before seeing a consistent ascent that started around mid-May. Following a few positive headlines about an announced expansion into Tennessee, the stock surged to an all-time high of $144 on Wednesday but closed 8% lower. Shares slid another 11% on Thursday following reports that one of its board of directors, Michael Klein, sold $6.7 million worth of stock. Even after all that, Oklo stock was still up 450% year to date. “I don’t like that,” said Cramer. Parabolic moves like that get a “lot of bad money into the stock,” he added on Thursday’s Morning Meeting for the Investing Club. “It’s non-quality versus quality.” By “bad money,” Cramer means traders who are looking to make a quick buck, not those investing for the long haul, which he advises and teaches through the CNBC Investing Club .
