Qnity (Q) is a screaming buy after a ‘ridiculous’ decline
Every weekday, CNBC Investment Club with Jim Cramer hosts a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s highlights. 1. The stock market rebounded on Wednesday after a weak Tuesday session weighed down by AI stock valuation concerns. According to Jim Cramer, speculative stocks have unfortunately been putting young investors in a difficult situation lately. “These have a very negative impact on the market if they fall, but since these are all speculative they shouldn’t fall,” Jim said, referring to volatile trading in quantum, nuclear and crypto-related names. Meanwhile, ADP private payroll data came in better than expected, with 42,000 jobs added at U.S. companies in October. 2. Eli Lilly shares had another day of gains, rising more than 4% on Wednesday following news that the drugmaker and rival Novo Nordisk may soon sign a GLP-1 pricing agreement with the Trump administration. The agreement would also include obesity coverage in the Medicare and Medicaid programs. As a result, the lowest dose of Lilly’s Zepbound can be sold for $299 through TrumpRX. That’s $50 cheaper than the company’s direct-to-consumer platform, LillyDirect. Overall, this would expand the reach of Club, which holds Lilly’s Zepbound and Mounjaro, and increase the pharmaceutical giant’s total addressable market for its blockbuster weight loss and diabetes treatments. The Wall Street Journal reported Tuesday that part of the deal could include early review of Lily’s oral GLP-1 Orforgliprone, and the Club is looking forward to seeing that happen. 3. The DuPont holding club hit an all-time high on Wednesday, adding to its recent gains since its split from Qnity Electronics. “I’d actually be inclined to sell some [of the stock]” said Jim, tracking DuPont’s parabolic moves. DuPont will release its quarterly earnings report on Thursday morning. Jim called Qnity a “bargain” as Qnity fell more than 5% on Wednesday. “I’m a buyer of this,” he added, calling the decline “somewhat ridiculous.” Qnity, which makes the materials needed to produce and package semiconductors, said after Thursday’s close, just three sessions after the specialty chemicals maker made its public debut. will share a business update. At the end of the video, those covered in Wednesday’s rapid fire were: Advanced Micro Devices, Arista Networks, McDonald’s, Axon Enterprise and Pinterest (Jim Cramer’s Charitable Trust is long DD, LLY, Q, SOLS. See here for a full list of stocks.) When you subscribe to the CNBC Investment Club with Jim Cramer, you’ll receive a trade alert before waiting 45 minutes after Jim posts a trade. If it has discussed the stock, it waits 72 hours after providing the transaction alert before executing the transaction. NO PARTICULAR RESULT OR PROFIT MAY BE AVAILABLE OR CREATED BY YOUR RECEIVING THE INFORMATION.
