Jim Cramer Says “IREN is a Press Release Stock”

IREN Limited (NASDAQ:IREN) is one of the stocks Jim Cramer mentioned in his latest comments. Answering a caller’s query about the stock, Cramer remarked:

“Okay, so IREN is a press release stock. It’s great that they want a big deal. I think that’s absolutely… it’s super super super. But that is part of the year of magical investing that’s ending… Take, sell half of it, okay?”

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

IREN Limited (NASDAQ:IREN) operates a vertically integrated data center business. The company manages computing hardware and infrastructure while also engaging in Bitcoin mining. A caller inquired about the stock during the lightning round of the  October 17 episode, and Cramer responded:

“Oh no, no, IREN, let me tell you something, you are going to sell IREN. I’m going to throw another one in. I’m going to give you a twofer in the sell side, Nebius. I am looking for insider selling to descend upon this group, and I will not be wrong. I will not be denied. I sense that I’m trying to get people out ahead and IONQ has already demonstrated my perspicacity. Take that.”

While we acknowledge the risk and potential of IREN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IREN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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