In this article, we will look at the stocks Jim Cramer commented on, as he explained that tech stocks cannot be trusted to lead anymore. The host of CNBC’s Mad Money said on Tuesday that technology stocks are starting to lose many of the traits that once made the sector the market’s clear leadership group.
A real bull market has leaders, and those leaders have terrific characteristics. They make a lot of money. There’s a limited number of them, and there aren’t too many shares around because these companies constantly buy those shares back. Something they can do, why? Because they’re spewing cash and have beautiful balance sheets. As recently as a few months ago, that described pretty much all the mega-cap tech stocks, but now we’re searching for new leadership because tech can no longer be trusted.
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Explaining why he has become more cautious, Cramer pointed to several concerns. First, he highlighted Bitcoin’s continued decline and said investors should reduce leverage and step away from margin borrowing. He also expressed concern about the growing number of initial public offerings and secondary stock offerings, and called that wave of new issuance “the real poison.” He also noted that the ongoing war is another factor weighing on his outlook.
Moreover, Cramer raised the question of how artificial intelligence companies such as OpenAI and Anthropic reached such elevated valuations during private fundraising rounds. He said that if more of these highly valued private companies eventually come to market, the influx of new shares could absorb investor money that previously flowed into publicly traded technology companies.
The bottom line: Let’s get off margin. Let’s stop the gunning and the speculating. Let’s raise some cash in the strength. You won’t regret it.
Our Methodology
For this article, we compiled a list of 15 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on June 9. We listed the stocks in the order that Cramer mentioned them.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
Jim Cramer Discussed 15 Stocks, Including Broadcom, Netflix, and His Skepticism Toward Tech Stocks
15. Carnival Corporation & plc (NYSE:CCL)
Carnival Corporation & plc (NYSE:CCL) was among the stocks Jim Cramer commented on, saying that tech stocks cannot be trusted to lead anymore. Toward the end of the lightning round, when a caller asked about the stock, Cramer remarked:
Okay, so this is very complicated for me because I like Carnival. It’s low multiple, but I think Viking is the one you can sail home in. I think come sail away with Viking for the next five years.
Carnival Corporation & plc (NYSE:CCL) runs cruise lines and offers vacation trips. The company also manages ports, hotels, lodges, and tours that support its cruise business. During the March 27 episode, a caller mentioned owning CCL and RCL and asked for Cramer’s opinion on the cruise line industry. He responded:
Okay, I only recommend Viking because I think Viking is insulated. They have a higher margin ship, and they’re in certain places that are not as easily disrupted, just like you described. And that’s the only one I like right now. I also like Disney cruises, but that’s very within the big confines of Disney, and that stock has been a very tough stock to own.
14. Wix.com Ltd. (NASDAQ:WIX)
Wix.com Ltd. (NASDAQ:WIX) was among the stocks Jim Cramer commented on, saying that tech stocks cannot be trusted to lead anymore. When a caller posed their inquiry about the company, Cramer said:
Okay, I got a guy, Zach, upstairs, and he can duplicate whatever Wix does, and he comes at a fraction of the cost, and they charge $10 a thing. Just kidding. And Zach’s worth a lot more than Wix.
Wix.com Ltd. (NASDAQ:WIX) provides a cloud-based web development platform with visual editing environments, application building tools, a user marketplace, and specialized business applications. The company also supplies integrated payment systems, mobile site management tools, and multiple artificial intelligence applications for automated content, design, and website creation. Lakehouse Capital stated the following regarding Wix.com Ltd. (NASDAQ:WIX) in its fourth quarter 2025 investor letter:
Wix.com Ltd. (NASDAQ:WIX) delivered another strong and consistent quarter, with bookings and revenue in constant currency both accelerating 13% year-over-year to $515 million and $504 million. Growth was supported not only by new users but also by higher-quality customers coming through Wix’s partner network who show stronger commercial intent, adopting higher subscription tiers and using more value-adding services such as payments. Underlying operating profit was broadly flat on the prior year as management reinvested in scaling the recently acquired Base44 business. Even with the reinvestment, free cash flow margins excluding acquisition-related transaction costs expanded 3 percentage points year-over-year to 32%, leaving the business comfortably above the Rule of 40 and trading at an attractive ~10 times 2026 free cash flow.
With the core business performing well, attention this quarter shifted to Base44, Wix’s newly acquired visual coding platform that enables users with limited or no coding experience to build standalone applications. Although visual coding has at times been flagged as a potential disruptor to website development tools like Wix, adoption to date has largely centred on application development rather than websites. In our view, the acquisition broadens Wix’s reach into the adjacent no-code application development category, complementing its core website-building offering.
Early traction has been encouraging. In less than six months under Wix’s ownership, Base44’s user base has grown sevenfold to more than 2 million users, and its annual recurring revenue has increased more than tenfold, with expectations of reaching about $50 million by the end of 2025. The product is already emerging as a category leader with more than 10% of audience traffic, and management has increased investment in marketing and AI compute capacity to support this momentum. This rapid uptake creates a short-term drag on margins, as users are mostly billed monthly while new cohorts consume more compute resources early in their usage cycle. While this may weigh on margins through 2026, investment levels remain within management’s control, and as Base44 scales alongside continued growth in Wix’s core business, we believe the company is well placed to return to margin expansion over time.
