5 Inverse Jim Cramer Stocks to Buy Today

In this article, we discuss 5 inverse Jim Cramer stocks to buy today. If you want to read about some more inverse Jim Cramer stocks to buy today, go directly to 10 Inverse Jim Cramer Stocks to Buy Today.

5. Rivian Automotive, Inc. (NASDAQ:RIVN)

Number of Hedge Fund Holders: 35     

Rivian Automotive, Inc. (NASDAQ:RIVN) develops and sells electric adventure vehicles. Jim Cramer has been bearish on the electric vehicles sector in general over the past few as recession fears gather pace and affect consumer spending power. On August 17, during the Lightning Round of his show, Cramer noted that he wanted viewers to sell the stock because it was “up too much”.  Rivian is one of the firms poised to benefit from the recently passed climate bill that incentivizes EV production and ownership. 

On July 18, Deutsche Bank analyst Emmanuel Rosner maintained a Buy rating on Rivian Automotive, Inc. (NASDAQ:RIVN) stock and lowered the price target to $46 from $69, backing the firm to maintain a solid outlook for the second half of 2022 despite a soft first half of the year.

At the end of the second quarter of 2022, 35 hedge funds in the database of Insider Monkey held stakes worth $1.5 billion in Rivian Automotive, Inc. (NASDAQ:RIVN), up from 29 in the previous quarter worth $3.9 billion.

In its Q4 2021 investor letter, Greenlight Capital, an asset management firm, highlighted a few stocks and Rivian Automotive, Inc. (NASDAQ:RIVN) was one of them. Here is what the fund said:

“We made a material gain in Rivian Automotive, Inc. (NASDAQ:RIVN) as a result of its IPO. We met RIVN’s sponsors in 2018 as part of our continued work on electric vehicles, and were favorably impressed by their technology and discipline. In mid-2020, we made a small investment at a $10 billion valuation. In November, Rivian Automotive, Inc. (NASDAQ:RIVN) went public at a $70 billion valuation and traded to a peak valuation of $162 billion. We hedged in the options market to lock in a minimum valuation of about $120 billion for a good chunk of our position. While we are believers in the company, we did not have material exposure at year end.”