Jim Cramer - Mad Money
American Well
AMWL-N
COMMENT
Oct 19, 2020
What he calls one of 15 Red Hot stocks: unstoppable growth stocks with a sky-high valuation (30-100x sales, not earnings) A telemedicine play. He made a mistake being too cautious to wait for a pullback to the $20s, because it kept rising.
2020 IPOs cost too much, and are worth buying now that they are out of style and cheaper. A telemedicine stock which had a phenomenal run during Covid. With the reopening now in full swing, this stock has lost two-thirds. Even at the current $17, avoid, because this is too much a lockdown stock. Avoid.
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