Cramer introduces the risky, but fast-growing ‘cloud princes’

For the last six months, CNBC’s Jim Cramer has been backing the “cloud kings,” his favorite cloud-computing stocks that represent one of the market’s most popular secular growth stories.

But the cloud kings aren’t right for everybody. The underlying companies — like and Adobe, to name a few — are already huge, meaning their growth is somewhat limited. That may translate into less volatile stocks, but not all investors want steady movers.

“If you’re on the hunt for a turbocharged rally and you’re willing to take some additional risk, you want to search for smaller, up-and-coming cloud companies that are still making their names,” Cramer said on Wednesday.

That’s why the “Mad Money” host came up with a new group, the “cloud princes,” for investors who feel like they can take on some more risk — for a potentially greater reward — in their speculative portfolios.

“If you want to own a cloud stock in your retirement portfolio, you buy one of the cloud kings,” he said. “But if you feel like taking some additional risk in your speculative mad money portfolio, meaning money you can afford to lose, you might want to consider buying a cloud prince.”

So, who are the cloud princes? Companies like Coupa Software, the first official Cramer-crowned cloud prince. Coupa’s platform helps businesses manage their spending and cut costs. Its stock has been on fire, rallying over 45 percent since Cramer recommended it on June 1.

Here are the five new members of the cloud prince cohort.

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