Jim Cramer Discusses CrowdStrike After Jensen Huang’s Endorsement

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is one of the stocks Jim Cramer talked about. Cramer said that he was surprised to see the stock fall notably from November highs, as he commented:

“Take my morning show, Squawk on the Street. Today, my co-host, Carl Quintanilla, turned to me and asked what looked interesting after so many stocks had run…. As I went down the list, and I literally go down company by company, I was astounded to see the stock of CrowdStrike, the best cybersecurity outfit run by George Kurtz, had fallen almost 100 points from its highs in November. I read the most recent research and went over what George told us when he reported last time, when he was on our show.

I went over what NVIDIA’s Jensen Huang said about the company at its keynote address… on CES on Monday. Do you know that Jensen’s been talking about this $10 trillion transformation, the modernization of enterprise computing via AI, and accelerated computing? Do you know what he said? He said that CrowdStrike is the secure foundation of this revolution. He praised it several times. And you know what? The stock didn’t do anything. I think that’s wrong. So I told Carl, this is the kind of stock that rarely comes down this much and is almost never this far from its high. And when it trades like this, what do you have to do? You have to pounce. The stock was at $464 at the time. And I said it. It finished the day at just under $479…  I’m definitely, by the way, not telling you to sell it. I’m saying that when you can get a good cost basis like you did in CrowdStrike this morning, you’re playing with a very strong hand.”

A laptop and a computer monitor display a detailed stock market technical analysis chart. Photo by Jakub Zerdzicki on Pexels

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) provides cloud-based cybersecurity solutions. The company offers protection for endpoints, cloud systems, identities, and data.

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