CNBC’s Jim Cramer, who is not shy about criticizing SPACs, on Thursday highlighted a trio of stocks that he believes are actually worth owning after completing their reverse mergers with blank-check companies.

The “Mad Money” host made a different investment case for each of the three companies: Matterport, Open Lending and Blue Owl Capital. But the common thread is Cramer sees more potential in these businesses than the many firms that rode the SPAC wave to the public markets and have so far been “hideous performers.”

Matterport — which uses technology to create “digital twins” of real-life spaces such as buildings — is “growing like a weed” even if it remains unprofitable right now, Cramer said. The company’s tech is helpful in a range of industries, including construction and real estate promotion, he said, adding that it could also become “the foundation of the metaverse.”

“This could be a decent speculation. …Just be sure to put on a small position here then use any weakness to gradually accumulate more on the way down because 2022 is not going to be a year for speculative stocks,” he said.

Cramer said he believes Open Lending is a buy, particularly because the stock has nearly been cut in half from its high of $44 per share on June 30. It closed Thursday’s session at $24.56.

The company, which provides a lending platform for the auto financing market, also stands to benefit from a possible improvement to the semiconductor shortage next year, Cramer said. An easing to the chip crunch means automakers can have more vehicles to sell, which helps Open Lending by extension, Cramer explained.

 ”The negatives have been baked into the stock, but the potential positives … haven’t,” he said.

Finally, Cramer said he likes Blue Owl Capital because it’s “already a major player” in the private equity industry, for which it essentially serves as an “arms dealer.” Plus, he said Blue Owl’s revenue is expected to more than double over the next three years.

“Earnings are growing at a nice clip, too. It’s a buy,” he said.

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