Jim Cramer Still Calls CoreWeave’s Stock Price a “Win” Despite Being Significantly Down From Its Peak

CoreWeave, Inc. (NASDAQ:CRWV) is one of the stocks that received Jim Cramer’s latest comments. Cramer mentioned the minute insider selling by the CEO during the episode, as he commented:

“CoreWeave raised $1.5 billion at $40 per share. With the stock now at $73 and change, you can still call that a win. Although this thing’s way down from $187 at its peak over the summer… How about the insider selling?… Michael Intrator, the CEO of CoreWeave, has sold about $84 million worth of stock since its lockup expired, which is admittedly a very small part of his holdings, though.”

Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels

CoreWeave, Inc. (NASDAQ:CRWV) runs a cloud platform designed to power and scale GenAI workloads with high-performance compute, storage, networking, and managed services. Cramer commented on the company’s quarter during the November 11 episode. He said:

“… the quarter we just got from CoreWeave, that’s a key data center operator that had to cut its full-year outlook today because it has contracted with an outfit called Core Scientific that failed to deliver its part of several data centers on time. It’s a huge piece of business that didn’t get done. The missed quarter shocked people, and it was a wake-up call that you can’t build these data centers overnight, and there could be even more costs than we thought.”

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