Jim Cramer Backs Reddit and Rocket Lab While Passing on SiTime Amid Rate Hike Concerns

CNBC host Jim Cramer favored stocks that had already sold off, such as Reddit (down over 12% in the last 3 months) and Rocket Lab, over growth stocks like SiTime, citing high valuations. Cramer expressed interest in buying Reddit after its slide, while for Rocket Lab, he noted the stock was less hurt than expected despite a Neutron launch delay to 2027, as the company reported a record $2.36 billion backlog in Q2. Cramer explicitly avoided SiTime, stating, "It’s expensive, and I’m not recommending expensive stocks in tech or out of tech."