Jim Cramer on Fermi Inc.: "I Think It's a Loser"

Fermi Inc. (NASDAQ:FRMI) is one of the stocks on which Jim Cramer gave his opinions. A caller asked if the stock is a buy, sell, or hold, and Cramer replied:

This is really hard. It’s a really speculative stock, and so I’m just going to be really blunt, and I’m going to tell you I want you to sell it… Just sell it, okay? I just don’t like it, and I always feel so, I know that sounds very harsh, but I think it’s a loser. Was a loser from the day it came public, even as I like the people who are involved. Ouch.

Fermi Inc. (NASDAQ:FRMI) is developing large-scale next-generation electric grids designed to power advanced artificial intelligence. The company’s planned campus will integrate nuclear, natural gas, solar, battery storage, and utility power to deliver highly redundant gigawatt-scale energy. Cramer discussed the stock during the January 7 episode, as he said:

Let’s not forget Fermi, which came public at the beginning of October on the heels of the most speculative AI-related trading of the year. Fermi’s more of a business plan than a business. They plan to build a massive data center in Texas, along with their own power generation, including, of course, something that everybody loves, a nuclear reactor eventually. Neat plan, but I almost lost my mind when the market bestowed this thing a $19 billion valuation right out of the gate. Like I said at the time, no business plan is worth $19 billion. Fermi was at $32 back then. Now, it’s at under 10 bucks. I hope you dodged that bullet.

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