Jim Cramer Bears Down On EchoStar (SATS): 'I Think The Play Is Over'

On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended selling Lucid Group, Inc. (NASDAQ:LCID).

Supporting his view, Morgan Stanley analyst Andrew Percoco, on Dec. 8, downgraded Lucid Group from Equal-Weight to Underweight and cut the price target from $30 to $10.

ONEOK (NYSE:OKE) is a buy right here, Cramer said.

Lending support to his choice, ONEOK, on Oct. 28, posted upbeat third-quarter results. The company posted quarterly earnings of $1.49 per share, which beat the analyst consensus estimate of $1.43 per share. The company reported quarterly sales of $8.634 billion, which beat the analyst consensus estimate of $8.530 billion.

Cramer recommended selling EchoStar Corporation (NASDAQ:SATS). “I think the play is over,” he added.

On the earnings front, EchoStar posted its third-quarter financial results on Nov. 6, which fell short of street estimates. Quarterly revenue came in at $3.61 billion, falling short of estimates of $3.75 billion and down from $3.89 billion in the same quarter last year.

With StubHub Holdings, Inc. (NYSE:STUB) losing too much money, Cramer recommended staying away from the stock.

On Friday, Wedbush analyst Scott Devitt maintained a Hold rating on Stubhub Holdings and lowered the price target from $22 to $18.

Price Action:

• ONEOK shares slipped 0.03% to settle at $71.67 on Friday.
• Lucid Group shares gained 3.2% to close at $11.82 on Friday.
• EchoStar shares rose 1.3% to close at $103.91.
• StubHub Holdings, Inc. shares fell 1.6% to settle at $13.77 on Friday.

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