Jim Cramer Says "IREN is a Press Release Stock"

IREN Limited (NASDAQ:IREN) is one of the stocks Jim Cramer mentioned in his latest comments. Answering a caller’s query about the stock, Cramer remarked:

“Okay, so IREN is a press release stock. It’s great that they want a big deal. I think that’s absolutely… it’s super super super. But that is part of the year of magical investing that’s ending… Take, sell half of it, okay?”

IREN Limited (NASDAQ:IREN) operates a vertically integrated data center business. The company manages computing hardware and infrastructure while also engaging in Bitcoin mining. A caller inquired about the stock during the lightning round of the  October 17 episode, and Cramer responded:

“Oh no, no, IREN, let me tell you something, you are going to sell IREN. I’m going to throw another one in. I’m going to give you a twofer in the sell side, Nebius. I am looking for insider selling to descend upon this group, and I will not be wrong. I will not be denied. I sense that I’m trying to get people out ahead and IONQ has already demonstrated my perspicacity. Take that.”

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