Jim Cramer Says "If You Want CoreWeave, Buy CoreWeave"

CoreWeave, Inc. (NASDAQ:CRWV) is one of the stocks Jim Cramer recently commented on. Cramer noted that he has been “supporting” the stock, as he remarked:

“What else? There are other companies that look like CoreWeave. CoreWeave is a great company that keeps winning business almost daily, and I’ve been supporting that one… Remember, if you want CoreWeave, buy CoreWeave.”

CoreWeave, Inc. (NASDAQ:CRWV) operates a cloud platform designed to power compute-intensive workloads, providing GPU and CPU compute, storage, networking, managed services, and virtual or bare metal servers. The company’s platform supports AI model training, inference, VFX rendering, mission control, and dataset optimization for machine learning developers. Cramer highlighted that he was one of the few people “positive” on the company’s stock following its IPO during the September 8 episode. He commented:

“I was one of the few people who was positive on CoreWeave when the data center play came public in late March at just $40 per share before falling to the low 30s within a month of the deal. But then the stock got hot in a hurry, and just in time, two months, in two months’ time, it soared to a high of $187 by late June. At those levels, it was simply setting itself up for failure. I’ve had the chance to speak with CoreWeave CEO Michael Intrator a couple of times on the show. Now, I like the fundamental business very much, but the stock has no business being as high as it was in June. Now that the lockup on insider selling, though, has expired, CoreWeave’s back down to the low 90s… It still has a huge success since coming public. It’s up more than 130% from its offer price. But if you bought the stock in the triple digits, you definitely don’t feel like a winner. CoreWeave was also a powerful reminder… [of] what happens to these small, what I call sliver deals… CoreWeave reported a great quarter early last month, but then the lockup expired. We got a huge wave of insiders selling. The stock’s now down 37% from its mid-August highs…”

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