Cramer's Lightning Round: American Electric Power is a buy

Source: CNBC
  • It's that time again! "Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.

American Electric Power: "You buy it...This won't just be a smooth ride, 4.2% yield is good. A lot of people sold this stock because the short term rates have gone so high because the Fed has raised rates so rapidly. That's why it's going down, nothing to do with the company which is incredibly well run. I would be a buyer of American Electric Power."

Verizon: "We don't care where stocks come from, we care where it's going...It's got an 8% yield, boosted the dividend...Even with this management team, I'm willing to own it."

Churchill Downs: "This has always been a very strange stock. When we first heard about it, it was just nothing but pizazz, but we got gambling all over the place. I'm going to say you want to buy DraftKings."

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