In this article, we will discuss: Jim Cramer Warned About Market Manipulation & Discussed These 22 Stocks. For more stocks, you can head to Jim Cramer Warned About Market Manipulation & Discussed These 5 Stocks.
With the hottest topic on the market right now being SpaceX’s IPO, CNBC’s Jim Cramer hasn’t held back on discussing the matter. SpaceX’s entry on the public markets has led to several rule changes for the premium NASDAQ 100, the S&P 500 and the FTSE Russell indexes. For the NASDAQ, the new methodology allows any new listed company that is among the 40 largest in terms of market cap to enter the NASDAQ 100 index after trading for 15 days. The rule comes in addition to changes to the float rules. For the S&P 500, the rule changes include tweaking profitability and seasoning requirements.
Estimates from Bloomberg analyst Rob Du Boff suggest that S&P index funds might be forced to buy 19% of SpaceX’s float. Cramer, in his first tweet about index reblancing blasted the index rebalancing:
“The index rebalancings at the bell yesterday were criminal. The exchanges and the largest companies and fund managers have to get together and figure out how to do these things correctly. A 3:50 pm. re-balance with no buybacks allowed can crunch billions for NO REASON.”
He then added that such rebalance, for firms such as SpaceX, OpenAI and Anthropic, could see market manipulation and losses:
“Every rebalance for Anthropic, SpaceX and OpenAI will lead to the chaos we saw at 3:50 p.m. unless we take this stuff out of the shadows. The manipulation potential is so fraught and the losses will be so palpable that it has to be discussed ahead of time to stave it off!!!”
Our Methodology
For this article, we compiled a list of stocks that Jim Cramer discussed during the episode of Squawk on the Street aired on May 29th and tweeted about. We listed the stocks in the order that Cramer mentioned them. We also provided hedge fund sentiment for each stock as of the fourth quarter of 2025, which was taken from Insider Monkey’s database of 1,000 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 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
22. Dell Technologies Inc. (NYSE:DELL)
Number of Hedge Fund Holdings in Q1 2026: 72
Computer hardware firm Dell Technologies Inc. (NYSE:DELL) was in the news earlier this week after its latest financial results saw the firm post meteoric revenue and net income growth. Its shares are up by an unbelievable 101% over the past month and closed 32% higher on Friday. Ahead of the earnings, several analysts were optimistic about Dell Technologies Inc. (NYSE:DELL). Bank of America raised the share price target to $246 from 205 and kept a Buy rating on the shares. The bank discussed the impact of the growth in agentic AI and its impact on server companies. Evercore ISI hiked Dell Technologies Inc. (NYSE:DELL)’s share price target to $240 from $205 and remarked that the firm appeared to be benefiting from long-term enterprise AI commitment. Cramer discussed Dell Technologies Inc. (NYSE:DELL)’s results in detail after the earnings and praised the conference call. He also commented on CEO Michael Dell’s share buybacks and overall charitable nature:
“Yeah, I mean look, people didn’t see this coming. Which is hard to believe because Michael’s been saying things are good. . .but what happened is this that, there were people who were so off the market. Some of them, 165, that take it to 500 dollars. Some people thought that they were going to have problems, still, with memory. Don’t realize that they have great supply chain. I’ve got to tell you, David, this is really interesting. You know that it’s not Michael on the conference call, it’s Jeff Clarke. And Jeff always does it. And Jeff plays it straight. So you’re listening and you’re taking down the numbers and you’re realizing, no it’s not possible. As opposed to, we had the greatest quarter. He doesn’t do that.
“If you want to read a conference call that explains how you should talk about business, then you should be on Dell. Because I think Dell, they spread the love. It’s obvious that you can buy Arm, AMD, Intel, Micron, mostly, it’s a lot of data center, of course, NVIDIA is the reason a lot of things are working for them. Particularly they have Vera Rubin, the next generation. And they could have actually said, something that was, we’re taking a lot of share from Super Micro. They didn’t say that. Of course Super Micro is now up. . .things are so strong for everybody.
“One thing that’s different about Dell is. If you take a look, Dell has bought back, Michael bought back a huge number of shares. In particular because when I saw him in GTC two years ago, that’s the NVIDIA trade show, he was saying listen Jim, if my stock stays right here. . .I’m gonna just go buy it all. And don’t forget I took it private one time when it wasn’t valued correctly. And well, I guess it wasn’t valued correctly and he bought a huge, I don’t know if you’ve seen the sheer number of what he bought.
“I wish everyone knew him. Cause he’s, Carl he’s not, you know, the Fitzgerald, the rich are not like you and me, no, it’s different. He is.”
However, in a tweet, the CNBC TV host regretted not being optimistic about Dell Technologies Inc. (NYSE:DELL) earlier:
“Furious that I missed Dell, grateful that i emphasized how i think the world of Dell at the top of the CNBC Investing Club meeting. I hate shilling for anything but jeez the Investing Club is a bargain. And a signed book, too!! Give it a shot!”
21. Hewlett Packard Enterprise Company (NYSE:HPE)
Number of Hedge Fund Holdings in Q1 2026: 58
Enterprise hardware firm Hewlett Packard Enterprise Company (NYSE:HPE)’s shares are up by 149% over the past year and by 78% year-to-date. JPMorgan discussed the firm on May 15th as it raised the share price target to $37 from $27 kept an Overweight rating on the stock. Among the factors that the bank discussed was an easing in the tight memory market. Earlier, Bank of America raised Hewlett Packard Enterprise Company (NYSE:HPE)’s share price target to $38 from $32 and kept a Buy rating on the stock. Like Cramer, the bank discussed the agentic AI driven tailwinds and their impact on Dell, and by extension, on Hewlett Packard Enterprise Company (NYSE:HPE). BofA added that higher valuation multiples were affecting both firms. Here is what Cramer said about the enterprise computing firm following its earnings:
“What I think is going to confuse people is that, you’re going to see HPE up a lot, you’re going to see Super Micro, those are competitors, up a lot. Those are competitors”
