Well-known television personality Jim Cramer has been known to change its mind about certain stocks and cryptocurrencies. Investors can often find that Cramer is bearish on a stock he was recently bullish on, or bullish on a stock he was recently bearish on.
Cramer recently named one of his favorite stocks in a surprising twist.
What happened: Cramer commented on the downside NVIDIA Corporation NVDA Monday during CNBC’s “Squawk on the Street.”
“I worry about Nvidia,” Cramer said.
The TV presenter highlighted that ether ETH/USD Merge is an unintended negative catalyst for a company like Nvidia.
“People who have been mining don’t need them (graphics cards),” he noted.
Cramer said Nvidia also struggled to make the transition to new sectors like artificial intelligence, virtual reality, and machine learning.
“We miss Nvidia. It’s a loser.”
Related link: Investors Beware: NVIDIA Stock Is “Caught in a Pretty Substantial Downtrend”
Why it matters: Cramer has been a bull for Nvidia stock for years, including many times in 2022.
In March Cramer said investors Buy Nvidia stock on any weakness.
“I know this is a tough market for a stock like Nvidia, and I wouldn’t be surprised if it had another foothold. But when you look at what this incredible company has to offer, I think the future belongs to Nvidia,” Cramer said.
Cramer too praised Nvidia’s position in the automotive sector as one of his strengths in February.
“I think that Jensen Huang will offer a level of technology for cars that Apple has to think about, Ford has to think about, General Motors has to think about, and above all, yes, Elon Musk,” Cramer said of Nvidia’s CEO and the company’s auto growth.
Early September Cramer said It was still too early to write Nvidia off, even after that Company booked profits per share and revenue lower than analysts’ expectations at the end of August.
His latest bearish comments come as Nvidia…
