Among the safety stocks discussed by Cramer during the episode on May 14, Bristol-Myers Squibb Company (NYSE:BMY) was first on his list as he said:

“Let's get started with the stocks that sold off hard today, because I think it's really important, because you know most, if not all, of these companies. Why don't we start with Bristol Myers, which we own for the Charitable Trust? Now here's a drug company with a decent oncology franchise that happens to be facing what's known as a huge patent cliff, alright… meaning it's about to have some highly lucrative drugs lose their patent protection, therefore not make them much money at all. We own it in part because of the yield. They're paying you to wait for new drugs that turn things around. The chief one is COBENFY. It's a potentially revolutionary drug that treats some tough neurological problems, including schizophrenia. Now we sold some of this stock when it had this ridiculous spike right here… some bizarre rotation into safety, but now Bristol's in the mid-40s. Now, we haven't bought back all of the stock that we sold. We're waiting for it to bottom because its most recent studies using COBENFY, it's one study, it came up snake eyes. Management has said over and over again that it can pay the dividend, which gives you a 5.6% yield. Why not buy more? Honestly, because I think it can go lower still without evidence that COBENFY is doing better.”Jim Cramer On Bristol-Myers Squibb: "Waiting For It To Bottom"

A pharmacy shelves stocked with pharmaceutical drugs awaiting distribution.

Bristol-Myers Squibb Company (NYSE:BMY) develops treatments for different diseases across several medical fields.

While we acknowledge the potential of BMY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than BMY and that has 100x upside potential, check out our report about this cheapest AI stock.

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