Jim Cramer of CNBC stated Monday that Uber has warmed him up, suggesting that Uber’s investment case is more favorable than the negative.

The “You have my permission to hold a small Uber stock position. You can purchase more in weakness to buy back the stock if it pulls back. “Mad Money”The host spoke.

Cramer said, “Just keep in mind, I expect that the investor meeting one month from now will be a significant positive catalyst.” He was referring specifically to the event. scheduled for 11 a.m. ET on Feb. 10. This will take place on the same day that Uber announces its fourth quarter financial results.

Cramer admitted that Uber does not necessarily fit in his space. main stock-picking theme for 2022The fund invests in tangible products and actual profits. He said that he believed the Uber pivot to profitability was happening “just in time”, given the Federal Reserve’s likely interest rate increases.

Cramer believes there are strong tailwinds and said, “I have been telling you not to trade stocks at multiples of sales. Not earnings.” Uber’s ride-hailing businessPeople travel more after Covid-related slowdowns and often go out to have fun.

Uber Eats success during the pandemicCramer stated, “It also appears more sustainable,” pointing out a decrease in competition within the app-based delivery market for food.

Uber’s not a one-hit wonder. There’s still a risk of regulatory failure and the possibility that you could be exposed to omicron. Cramer explained that the potential for omicron to linger could slow down the recovery of ride-share. But, I believe we have now reached a point when the positives far outweigh the downsides.

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