Jim Cramer, host of Mad Money, said Thursday that the insider selling he is seeing in several companies reminds him uncomfortably of what went on during the dot-com years.
“Somebody has to pay the bad guy. Might as well be me. In the last two months, regular viewers of this show know I’ve gotten cautious on the more speculative stocks connected to the data center and AI. I’ve said repeatedly that when I see insider selling and secondary offerings, borrowings, and operations with no revenue, I’d have to take a step back. I had proclaimed 2025 as the year of magical investing, where if you bought anything, anything at all that’s involved in the data center, you made money.”
READ ALSO Jim Cramer’s Latest Comments on These 17 Stocks and Jim Cramer Recently Put These 18 Stocks Under a Microscope
However, Cramer admitted that earlier in the week, he made a sharp turn. He said he “pulled the plug on the year of magical investing” and declared it finished. He added that it was “a hideous day,” especially for tech stocks tied to data centers and AI. He noted that money is moving either to the sidelines or into high-growth areas outside tech. He made clear that he does not intend to walk away from companies in AI that actually generate strong profits, his trust has not, and he emphasized that he recognizes a mania when he sees one. He added, “This one feels like it’s starting to unwind.”
“The bottom line: At this point, there’s more than one nail in the coffin of the year of magical investing. A few more of these, and you know what? It’s going to be like that Stephen King book, which I absolutely love. He can do a sequel to a Pet Sematary, and he can fill it… this time with Bitdeers and all sorts of other crypto or AI animals. I definitely would read it, but please don’t ask me to live through it again.”
Our Methodology
For this article, we compiled a list of 16 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on November 13. We listed the stocks in the order that Cramer mentioned them. We also provided hedge fund sentiment for each stock as of the second quarter of 2025, which was taken from Insider Monkey’s database of over 900 hedge funds.
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. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
Jim Cramer Discussed These 16 Stocks Recently
16. Lam Research Corporation (NASDAQ:LRCX)
Number of Hedge Fund Holders: 85
Lam Research Corporation (NASDAQ:LRCX) is one of the stocks Jim Cramer discussed recently. During the lightning round, when a caller mentioned that they are a long-term holder of the stock, Cramer commented:
“I’ll tell you, Applied Materials reported tonight, and they did not do a good job. They haven’t done a good job. Lam is a better company. I think tomorrow Lam will be down because of Applied Materials, and then you want to start nibbling at that stock.”
Lam Research Corporation (NASDAQ:LRCX) develops equipment for depositing, etching, and cleaning semiconductor materials. It includes systems for tungsten and copper metallization, plasma and atomic-layer deposition, dielectric and conductor etch, and wafer cleaning. A caller asked about the company’s stock during the September 15 episode and Cramer responded:
“Yeah, someone downgraded Lam Research the other day, and I said, are you out of your mind? That’s the chief intellectual property of semiconductor capital equipment. I think it is still a buy even though it just had this parabolic move, up 65%. Do not sell it. Be a buyer.”
15. Conagra Brands, Inc. (NYSE:CAG)
Number of Hedge Fund Holders: 38
Conagra Brands, Inc. (NYSE:CAG) is one of the stocks Jim Cramer discussed recently. A caller asked if the stock is a dividend trap or if they should start “nibbling” on it. Here’s what Mad Money’s host had to say:
“The revenues are flat for Conagra for multiple years. I do not invest in companies that have flat revenues for multiple years.”
Conagra Brands, Inc. (NYSE:CAG) produces packaged foods across shelf-stable, refrigerated, and frozen categories. Some of its brands include Slim Jim, Birds Eye, Marie Callender’s, Duncan Hines, Healthy Choice, and Reddi-wip. Cramer discussed the company’s dividend during the September 30 episode and commented:
“Tomorrow, Conagra Brands report. Solid brands, right? Birds Eye, Hunt’s, BOOMCHICKAPOP… household names, along with many others, plus the stock yields 7.6%. What’s not to like? Precisely what’s not to like is that 7.6% dividend yield. How can a packaged food company offer you such a great return? It’s because most investors don’t believe they can keep paying that dividend at current levels.
Now, you might be tempted to buy Conagra, it’s a solid company, but I’d rather go for it when it yields 7.6 going to 6 because then I’d be less concerned. If you buy the stock right now, you’re reaching for yield, which is something you should never do because if a dividend gets cut, stock’s going to get hammered no matter what. And let’s not forget when the yield was 5 or even 6, it didn’t stop the stock from going down, did it?”
14. CarMax, Inc. (NYSE:KMX)
Number of Hedge Fund Holders: 54
CarMax, Inc. (NYSE:KMX) is one of the stocks Jim Cramer discussed recently. Answering a caller’s query about the stock, Cramer remarked:
“Okay, so look, I’ve gotta tell you, that was a very, very disrupting, a shocking departure by the CEO. And I think that the business is really bad there, I mean, really bad. And I would not own that stock. I was surprised. It was, it was terrible.”
CarMax, Inc. (NYSE:KMX) sells used vehicles, including domestic, imported, luxury, hybrid, and electric categories. In addition, the company provides auctions, protection plans, and reconditioning services. During the September 25 episode, Cramer noted that the company’s customers need lower rates, as he commented:
“This morning, we got results from CarMax, oh my, the country’s largest used car dealer. They were awful, causing the stock to plunge 20%. Sales were 6% below Wall Street expectations. There was an incredibly weak… profit per car was below expectations. Big loan losses, too. Every line was suboptimal. What could help CarMax make the numbers? Well, you know exactly what, a bunch of great cuts. Their customers need lower rates as auto loans are priced off the shorter end of the yield curve, mainly two and three-year rates, ones that would come down if the Fed keeps cutting interest rates.
CarMax is a very good operator, by the way. But unless rates come down substantially, I think things will only get worse for this company. People think it’s a dog, it’s not… One thing’s for certain without rate cuts… We know the CarMax used car weakness doesn’t just, isn’t just going to stay with used cars. It’ll be new cars too.”
13. ServiceNow, Inc. (NYSE:NOW)
Number of Hedge Fund Holders: 106
ServiceNow, Inc. (NYSE:NOW) is one of the stocks Jim Cramer discussed recently. During the lightning round, when a caller inquired about the stock, Cramer said:
“If you invest for the long term, I want you to hold it. And I think… it did in the Liberation era go down to $678. I don’t think that’s going to happen. All I can tell you is I think the fundamentals are very good at ServiceNow and that there’s no doubt about it. Bill McDermott knows how to run a real good company.”
ServiceNow, Inc. (NYSE:NOW) provides a cloud platform that supports digital workflows through AI, automation, low-code tools, analytics, and a set of IT, security, customer-service, and employee-experience products. Cramer mentioned the company during the October 29 episode and stated:
“While this has been a great year for anything connected to AI, it’s been pretty darn awful for the enterprise software space. Because if there’s one thing that AI’s already good at, it’s writing the code that the enterprise software guys give you, and that’s why even the highest quality enterprise software companies have gotten slammed.
Take Cramer fave ServiceNow, which helps its customers automate all sorts of IT and back office jobs. Going into today’s close, this stock was down almost 24% from its all-time high in January. But here’s the thing, we haven’t seen any signs of artificial intelligence impacting their earnings. Tonight, ServiceNow reported another excellent set of numbers, 22% revenue growth, 56% earnings beat off a $4 and 26-cent basis. Even better, management raised nearly every line, every line of their full-year forecast.”
12. Coterra Energy Inc. (NYSE:CTRA)
Number of Hedge Fund Holders: 45
Coterra Energy Inc. (NYSE:CTRA) is one of the stocks Jim Cramer discussed recently. Cramer highlighted that the Charitable Trust sold its Coterra stock in August. The Mad Money host said:
“After a brutal day for the market, I gotta talk about something that’s actually been working really well lately, Coterra Energy, the oil and gas producer with a major presence in both the Permian Basin down in Texas and the Marcellus Shale in Pennsylvania. A week and a half ago, Coterra reported what looked like a mixed quarter, modest revenue beat, paired with a small earnings miss. But management’s production forecast, which is what really matters… was more encouraging, especially now that the demand for natural gas is surging.
The next day, Coterra held its conference call. An activist firm called Cambridge released a public letter, calling on Coterra to divest some assets so they could focus more heavily on the Permian, where the oil is. Stock jumped 6% that day. Now, we used to own this one for the Charitable Trust, but we sold it around 24 in August. Why? Well, we just believe that oil and gas will not outperform the rest of the S&P this year. Since then, oil’s been very tough, but natural gas has roared. And this stock’s been very strong for the past couple weeks.”
Coterra Energy Inc. (NYSE:CTRA) explores, develops, and produces oil, natural gas, and natural gas liquids. Moreover, the company operates gathering and disposal systems and sells its energy products to industrial, utility, and pipeline customers.
11. Hertz Global Holdings, Inc. (NASDAQ:HTZ)
Number of Hedge Fund Holders: 39
Hertz Global Holdings, Inc. (NASDAQ:HTZ) is one of the stocks Jim Cramer discussed recently. A caller asked whether they are being greedy by setting a price target of $8 for their exit from the stock. Cramer commented:
“Well, you know, it’s a speculative stock, and my feeling on speculative stocks, you’re in it to hit it big. I mean, in How to Make Money in Any Market, I urge people to speculate, and when they do, I urge that let them think big. And that’s what I’m going to tell you to do in Hertz Global Holdings. Even though I don’t think you can get there, you think it does, it’s your call.”
Hertz Global Holdings, Inc. (NASDAQ:HTZ) provides vehicle rental services under the Hertz, Dollar, and Thrifty brands and sells vehicles along with value-added services. A caller inquired about the stock during the November 11 episode, and Cramer replied:
“Oh, I’ll tell you, here’s what we’re going to do: we’re going to watch Hertz. We’re going to watch it. I think that you have made a strong recommendation. I appreciate that, coming on the show. It has been a contrary name. Maybe we gotta be more open-minded, and I want to thank Mike for the idea.”
10. American Express Company (NYSE:AXP)
Number of Hedge Fund Holders: 70
American Express Company (NYSE:AXP) is one of the stocks Jim Cramer discussed recently. Cramer showed a positive sentiment toward the company, as he said:
“Over the past few weeks, it looks like the experiential economy ain’t what it used to be… When you put it all together, it paints an increasingly negative picture of the whole experiential economy. I’m not yet ready to completely give up on this theme. As I could also point to some contraindicators, like continuous strength in American Express, the preferred credit card for all things travel-related. You know, I think that company’s great.”
American Express Company (NYSE:AXP) provides credit and charge cards, payment processing, banking, and travel-related services. The company also offers merchant solutions and expense management tools. Cramer discussed the company during the November 12 episode and commented:
“It’s been at least a week since someone has urged their clients to buy the stock of American Express. I know it’s counterintuitive, but you believe this stock’s already at an all-time high today. That’s perfect because everyone likes a good price target boost. How can you not raise the price target of American Express when it’s never been this high?”
9. The Walt Disney Company (NYSE:DIS)
Number of Hedge Fund Holders: 111
The Walt Disney Company (NYSE:DIS) is one of the stocks Jim Cramer discussed recently. Cramer discussed the company’s earnings and the following market reaction, as he stated:
“Over the past few weeks, it looks like the experiential economy ain’t what it used to be… Finally, for one last example, well, you know what we sold today? We sold Disney. And that’s a stock that I, and I’m going to put this in, sadly own for my Charitable Trust. Disney tumbled nearly 8% today in response to the company’s latest quarter, which they reported before the open. As we told investing club members, we think that’s a pretty extreme reaction to what was overall a decent set of numbers. Disney posted a top-line miss and a bottom-line beat with solid guidance for this year ahead.
But this certainly wasn’t a great quarter by any stretch of imagination. And those who think it is… You gotta be a little more circumspect. While most of the weakness was on the media side of things, their domestic experience business also came up short, that’s parks and cruises. For the year ahead, Disney’s fiscal 2026, management said they expect the experiences division to put up operating income growth in the high single digits, but they also said that it would be ‘weighted to the second half of the year.’ So even Disney seems to anticipate a near-term soft spot.”
The Walt Disney Company (NYSE:DIS) creates and distributes film, television, and streaming content under its major studios and networks. The company also operates theme parks, resorts, live entertainment, merchandise, and licensing of its intellectual property. Some of its major studios and networks include Disney, Marvel, Pixar, Lucasfilm, and ESPN.
8. StubHub Holdings, Inc. (NYSE:STUB)
Number of Hedge Fund Holders: N/A
StubHub Holdings, Inc. (NYSE:STUB) is one of the stocks Jim Cramer discussed recently. Cramer highlighted the stock’s decline since its IPO and his previous warning about it. He said:
“Because of those soft results from Ticketmaster, I’d also like to point out that StubHub, a similar business that I warned you away from after it came public in September, is now down 20% from its IPO price. Not good. In fact, it’s now down more than that because the stock is moving lower in after-hours trading, after StubHub reported a disappointing result in its first earnings report as a public company after the close tonight, first.”
StubHub Holdings, Inc. (NYSE:STUB) operates an online marketplace for buying and selling tickets to sports, concerts, theater, and other live events. During the September 17 episode, Cramer discussed the stock’s IPO and said:
“That’s why I didn’t mind what happened to StubHub, the online ticket seller, came public at 23:50 today, and then saw its stock fall below its offering price by 1:15 PM. It finished the day at 22 bucks. Ouch. Look, I’m not picking on StubHub. I actually use them to get tickets wherever I go, including Wembley to see the Eagles play the Jags in a previous decade. I’m a fan of StubHub, but I’m happy to see this IPO fizzle because it will help curb your enthusiasm.”
7. Live Nation Entertainment, Inc. (NYSE:LYV)
Number of Hedge Fund Holders: 67
Live Nation Entertainment, Inc. (NYSE:LYV) is one of the stocks Jim Cramer discussed recently. Cramer highlighted the company’s “top and bottom line miss,” as he commented:
“Over the past few weeks, it looks like the experiential economy ain’t what it used to be… Okay, then there’s Live Nation, a company we really like, that’s the world’s leading live entertainment company. They also own Ticketmaster. This is another stock that had been doing very, very well until recently. But when Live Nation reported last Tuesday night, its stock plunged more than 10% the next day in the wake of the top and bottom line miss, driven by a shortfall in their concerts business as well as weaker profitability from Ticketmaster.
Like the cruise lines, Live Nation’s still presenting a confident tone about the state of their business heading into next year. But we’ve grown accustomed to big beats from this company in previous quarters. So what happens? You get a legitimate shortfall, which actually looks like a decent number.”
Live Nation Entertainment, Inc. (NYSE:LYV) promotes live music events, manages venues and festivals, and provides artist services. In addition, the company provides ticketing solutions, resale platforms, and sponsorship and advertising programs.
6. Royal Caribbean Cruises Ltd. (NYSE:RCL)
Number of Hedge Fund Holders: 43
Royal Caribbean Cruises Ltd. (NYSE:RCL) is one of the stocks Jim Cramer discussed recently. Cramer commented on the company’s earnings and forecasts during the episode and said:
“Over the past few weeks, it looks like the experiential economy ain’t what it used to be… Another clue… came from the cruise lines, which have been some of the biggest winners in the experiential economy for the past few years. Royal Caribbean, which had been the best of the bunch, is now down 20% since it reported in late October. Norwegian Cruise Line is off roughly 16% since reported last Tuesday.
Now, their actual numbers really weren’t all that bad, especially Royal Caribbean, which raised its full-year earnings forecast. But their fourth quarter revenue outlook was a tad disappointing, and that was enough to make investors feel like demand might be waning, which torpedoed the stock. Management is insisting that demand remains robust and has a strong book position heading into 2026.”
Royal Caribbean Cruises Ltd. (NYSE:RCL) operates cruise vacations under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands.
5. Sweetgreen, Inc. (NYSE:SG)
Number of Hedge Fund Holders: 27
Sweetgreen, Inc. (NYSE:SG) is one of the stocks Jim Cramer discussed recently. Cramer highlighted the issue that is causing companies like Sweetgreen to miss expectations. He commented:
“Over the past few weeks, it looks like the experiential economy ain’t what it used to be… In the last couple of weeks, we’ve gotten some disappointing earnings from companies that have been big winners in this space.
For starters, last week, we got this not so hot numbers from three different fast casual chains, Chipotle, Cava, which have been doing very well, and Sweetgreen, not a good performer. All three missed expectations. All three stocks got hammered last week… All three cited the same issue: younger customers are cutting back on meals away from home and visiting the restaurants less frequently. Dreadful.”
Sweetgreen, Inc. (NYSE:SG) operates fast-casual restaurants that provide healthy food and beverages. The company provides online and mobile ordering.
4. TKO Group Holdings, Inc. (NYSE:TKO)
Number of Hedge Fund Holders: 48
TKO Group Holdings, Inc. (NYSE:TKO) is one of the stocks Jim Cramer discussed recently. Cramer highlighted the company’s most profitable divisions during the episode, as he remarked:
“Could your portfolio stand to be a little more combative? Over the past few years, through a series of complex mergers, we’ve seen the rise of TKO Group Holdings. It’s the parent company of UFC, that’s the world’s leading mixed martial arts organization, and WWE, the professional wrestling powerhouse. They also own the PBR, bull riding league, Zuffa Boxing, and a couple of other businesses, like IMG, major sports marketing agency. But most of TKO’s money comes from two very consistent divisions, Ultimate Fighting Championship and WWE, and these are great growth properties.
In fact, UFC inked a seven-year $7.7 billion deal with Paramount back in August, which will start next year. Now, this was all created by Endeavor, which, among other things, is my talent agency, okay, but back before it was taken private by a Silver Lake earlier this year. TKO, as it exists now was formed in February, and since then, this is what matters, stock’s up quick 21%… I also like what I just heard from TKO Group, which specializes in live events, and its business seems to be on fire.”
TKO Group Holdings, Inc. (NYSE:TKO) produces and licenses sports and entertainment content. It is the parent company of UFC and WWE.
3. Celestica Inc. (NYSE:CLS)
Number of Hedge Fund Holders: 63
Celestica Inc. (NYSE:CLS) is one of the stocks Jim Cramer discussed recently. When a caller sought Cramer’s thoughts regarding the stock, he replied:
“You know what? I thought that the Celestica decline was, I thought it was almost like a targeted decline. I did not see anything specifically that merited why it went down like this… But I do think that when you see a stock that falls as much today, you get another down day tomorrow until we find out what’s going on. But Celestica is a really good company. Someone targeted that company today.”
Celestica Inc. (NYSE:CLS) provides end-to-end supply chain and manufacturing solutions, including design, production, testing, logistics, and after-market services. In addition, it delivers hardware and software platform solutions for clients across technology, aerospace, industrial, healthcare, and business sectors. Cramer highlighted the stock’s run through the year during the October 28 episode, as he commented:
“Lately, the contract electronics manufacturers have been on fire… Jabil, we’ve had them on, Flex, Taiwanese company Foxconn, as well as a lesser-known Canadian outfit… called Celestica. Here’s a stock that has more than tripled for the year coming into this week. Just so you know, that means 253% as of today, jumping almost $25 or 8% today in response to a great quarter, and maybe more important, a bullish investor day where they really explained what’s going on, right here in New York City. Celestica posted a sizeable top and bottom line beat, with a terrific forecast for 2026. How did they do it? These companies are all beneficiaries of the data center boom because they manufacture so much of the hardware that goes into these warehouses full of servers. Celestica, though, has started designing its own equipment too. In many ways, that’s where the money is. At this point, my only worry is maybe it’s too late to buy. You know, I’ve liked it for a long time. Stock has had a good run, though.”
2. ON Semiconductor Corporation (NASDAQ:ON)
Number of Hedge Fund Holders: 50
ON Semiconductor Corporation (NASDAQ:ON) is one of the stocks Jim Cramer discussed recently. Noting that the company makes silicon carbide chips for automobiles and industrial markets, a caller inquired about the stock. In response, Cramer said:
“Well, but you see, you just mentioned the end markets, and those are two end markets that I think are the most challenged end markets. So I can’t be there. I mean, even Analog Devices, a company I like very much, kind of similar end markets, I don’t want to be there. Same thing with Texas Instruments.”
ON Semiconductor Corporation (NASDAQ:ON) develops semiconductors and sensors. The company provides power management, analog and mixed-signal devices, and intelligent imaging solutions. Cramer mentioned the stock during the February 3 episode and stated:
“The fourth worst performer in the S&P last month was ON Semiconductor, that’s down 17%. This chipmaker is a leading supplier for the auto industry and though it doesn’t report until next week, the stock got hit after Texas Instruments reported last Monday and gave a dour outlook for the automotive and industrial end markets. The semiconductor cohort is all over the place. The ones selling into the AI team are still doing pretty well, but anything cyclical like Texas Instruments or ON Semi has, it had a real tough go.”
It is worth noting that the company’s stock price is down over 4% since the above comment was aired.
1. Bitdeer Technologies Group (NASDAQ:BTDR)
Number of Hedge Fund Holders: 12
Bitdeer Technologies Group (NASDAQ:BTDR) is one of the stocks Jim Cramer discussed recently. Cramer highlighted the reason for the company’s stock price decline, as he commented:
“Let me give you a story that’s right out of the year 2000. There’s this company called Bitdeer Technologies Group, which calls itself ‘a world-leading technology company for Bitcoin mining and AI cloud.’ It just priced $400 million of a 4% convertible senior note. It also priced more than 10.6 million class A ordinary shares for certain holders of its 5.25% convertible senior notes. Bitdeer intends to use a big chunk of the proceeds to pay down about 300 million in convertible debt from a previous transaction, though the actual proceeds really weren’t that clear.
Whatever’s left, they plan to spend on, yes, data center expansion. Now, look, I don’t mean to pick on Bitdeer, it’s probably a fine company. It’s lost a lot… of money, though. I mean, financing knocked the stock down 20%. That’s like 2000. It was at $27.80 on October 15th. It’s now at $11. Again, like 2000. What happened with this Bitdeer? Financing is exactly what kept happening in 2000. Companies that were big money losers kept selling stock or bonds, convertible bonds to raise money at any price they could get. Maybe this is the kind of offering that works out. Maybe Bitdeer turns out to be the next Core Scientific or maybe the next CoreWeave, which did do well off that IPO, but I doubt it’ll ever be the next Cisco.”
Bitdeer Technologies Group (NASDAQ:BTDR) provides blockchain and high-performance computing solutions, including hash rate services, mining rig hosting, and cryptocurrency mining. Moreover, the company offers software and platforms to optimize mining operations and sells mining equipment.
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