Jim Cramer Says Arista's CEO "Gaffed and Gutted the Short Sellers"

Arista Networks Inc (NYSE:ANET) is one of the stocks Jim Cramer recently shed light on. During the episode, Cramer said that the company reported “stupendous” numbers, as he commented:

“And look, this short-busting Palantir is not alone. Stocks in this market fly when they’re heavily shorted and something good, anything good, happens. Take Arista Networks, one of my faves, the data center networking play… If the stock’s been creeping up every step by step, inch by inch, the shorts were increasing their bets the whole time. They figured it was like shooting fish in a barrel.

Then Arista reported, and the numbers, they were stupendous. The last quarter was an apparition. CEO Jayshree Ullal gaffed and gutted the short sellers… The stock managed to shoot up more than 17% today. You don’t find ordinary longs pay up like this. It’s the short sellers panicking, knowing that they’re done, stick a fork in them. They have no choice but to buy, to close out their now losing positions.”

Arista Networks Inc (NYSE:ANET) develops data-driven networking solutions for AI, cloud, data center, and routing use cases, built around its Extensible Operating System and network applications. In addition, the company provides software, services, and support for several enterprise and service provider customers.

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Disclosure: None. This article is originally published at Insider Monkey.