Jim Cramer recently discussed CoreWeave, Inc. (NASDAQ: CRWV) on his show. He noted the stock's price movements since its initial public offering.
"Now, you know what? I can say the same thing about one that I talked about a lot on the show, CoreWeave. That's a data center operator, came public at 40 bucks, shot up to $187 in June, only to sink to $77 today. It's up 93% from the IPO price, but down 59% from its highs," Cramer stated.
He continued, "Now, I've talked about this a lot. Back when CoreWeave came public at $40 in March, I was one of the few commentators who was willing to go positive on it. That was in the run-up to the Liberation Day, and remember those tariffs, and everybody on Wall Street was terrified. I thought CoreWeave had a great business mining data, you know, they kind of create the data center infrastructure, and the stock was way too cheap at these levels."
"But when it more than quadrupled by June and then Circle Internet came public, more than tripling in its first few days, I said you had to cool your jets. Good call... CoreWeave added another 25 points or so. But if you sold when I went negative, you still would have avoided some massive losses down the road. Maybe that's the key," Cramer added.
CoreWeave operates a cloud platform for GenAI workloads with high-performance compute, storage, networking, and managed services.