Jim Cramer Says “Klarna is Fine”

Klarna Group plc (NYSE:KLAR) is one of the stocks Jim Cramer recently discussed. When a caller mentioned that they want to exit AXP, as they think that Stephen Squeri is “in over his head”, and invest in KLAR, Cramer commented:

“No, I won’t let you do that. I don’t think Squeri’s in over his head at all. I think he’s actually a, I think he, in his own way, is a genius. He’s figured out what younger people want… I reactivated my platinum card yesterday and… you know what, Squeri, he just figured it out. He makes us happy. I think he’s a very good executive. Klarna is fine, but Squeri, let’s just say, he’s figured it out.”

A technical stock market chart. Photo by Energepic from Pexels

Klarna Group plc (NYSE:KLAR) is a technology-driven payments company that provides payment solutions, digital retail banking, and advertising services to consumers and merchants. Cramer highlighted the stock during the September 10 episode and said:

“So, how does Klarna’s valuation look now? Well, when the Klarna deal priced above the range of $40 per share last night, the company was being valued at just over 15 billion. With the stock opening in the 50s today, that was closer to 20 billion. After the pullback, it’s now valued at over 17 billion, slightly higher than what the venture capitalists were paying earlier this year. I gotta tell you, I kinda like Klarna at this price. I really do.

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Disclosure: None. This article is originally published at Insider Monkey.

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