Jim Cramer on CoreWeave: “I Like the Fundamental Business Very Much

CoreWeave, Inc. (NASDAQ:CRWV) is one of the stocks Jim Cramer talked about. Cramer mentioned the company during the episode and said:

“I was one of the few people who was positive on CoreWeave when the data center play came public in late March at just $40 per share before falling to the low 30s within a month of the deal. But then the stock got hot in a hurry, and just in time, two months, in two months’ time, it soared to a high of $187 by late June. At those levels, it was simply setting itself up for failure. I’ve had the chance to speak with CoreWeave CEO Michael Intrator a couple of times on the show. Now, I like the fundamental business very much, but the stock has no business being as high as it was in June. Now that the lockup on insider selling, though, has expired, CoreWeave’s back down to the low 90s… It still has a huge success since coming public. It’s up more than 130% from its offer price. But if you bought the stock in the triple digits, you definitely don’t feel like a winner. CoreWeave was also a powerful reminder… [of] what happens to these small, what I call sliver deals… CoreWeave reported a great quarter early last month, but then the lockup expired. We got a huge wave of insiders selling. The stock’s now down 37% from its mid-August highs…”

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CoreWeave, Inc. (NASDAQ:CRWV) provides a cloud platform designed to scale and accelerate enterprise compute workloads, with solutions including GPU and CPU compute, storage, networking, and managed services. The company’s solutions support AI training and inference, VFX rendering, and developer tools for machine learning.

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