Jim Cramer’s Recent Insights on These 24 Stocks

6. Arista Networks Inc (NYSE:ANET)

Number of Hedge Fund Holders: 81

Arista Networks Inc (NYSE:ANET) is one of the stocks Jim Cramer recently provided insights on. A caller inquired about the stock, noting its “monster gains” this year. Cramer replied:

“Don’t touch Arista. Don’t touch Arista. That one, that’s a beast. That’s a beast that’s going higher. $200 billion, Jayshree Ullal, I don’t talk enough about what an amazing CEO she is. That stock goes higher.”

Arista Networks Inc (NYSE:ANET) sells cloud-based networking solutions and related software for data center, AI, and enterprise operations. In addition, it provides network services, support, and hardware solutions. Cramer mentioned the company during the August 6 episode and said:

“And look, this short-busting Palantir is not alone. Stocks in this market fly when they’re heavily shorted and something good, anything good, happens. Take Arista Networks, one of my faves, the data center networking play… If the stock’s been creeping up every step by step, inch by inch, the shorts were increasing their bets the whole time. They figured it was like shooting fish in a barrel.

Then Arista reported, and the numbers, they were stupendous. The last quarter was an apparition. CEO Jayshree Ullal gaffed and gutted the short sellers… The stock managed to shoot up more than 17% today. You don’t find ordinary longs pay up like this. It’s the short sellers panicking, knowing that they’re done, stick a fork in them. They have no choice but to buy, to close out their now losing positions.”