Opinions
Jim Cramer - Mad Money
Origin Materials Inc
ORGN-Q
RISKY
Feb 03, 2023
$5.990
Stock price when the opinion was issued
chemicals
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A SPAC from earlier this year. Shares initially jumped to $14, but is today $6. It's a chemical company used in textiles, packaging, agriculture and solid fuels, but a SUSTAINABLE company. They make plastic out of wood chips, which is cheaper than traditional oil, but also good for the world. Their first plant is being built in Ontario, so we're in the early days, expected to finish end 2022, with a second plant in 2025. If they can pull it off, this company's value will be huge. They have $1 billion in orders, including Pepsi and Danon, who are also investors in the company. Palantir and Ford also have stakes. Their last quarter reported far more orders, and the street just added a buy rating. Their short term may be lousy, but he believes in the long term. Spec.
chemicals
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A former SPAC (he doesn't like SPACs) with shares are roughly the same level 14 months later vs. the market's -10%. Has soared 30% in the past month as the market rallied. It's a spec stock that is a pre-revenue company (just getting started). Have more than doubled orders since Dec. 2021.