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In this article: Jim Cramer: “Don’t buy these 11 stocks”. Check out our article for an overview of these stocks. Jim Cramer: “Don’t buy these” Five stock.
Jim Cramer Continues to Challenge Market Bears After NVIDIA Corp (NASDAQ:NVDA) Shattered Wall Street Expectations with Another Stunning Quarter, AI Rise Continued to Push Stocks Higher in 2023 essentially proved that it wasn’t all based on the hype after all. Cramer recently said on CNBC’s “Mad Money” that NVIDIA Corp (NASDAQ: NVDA) did not defy gravity with its latest earnings, but rather “unwarranted negativity” and “cynicism.” Ta. Cramer said the performance of NVIDIA Corp (NASDAQ: NVDA) stock has proven wrong the idea that stocks are “hostages” to an “almighty Fed.”
Cramer said he has long recommended NVIDIA Corp (NASDAQ:NVDA) stock because he knows the company’s chips are much faster than competitors like Intel. Cramer said he believed “for many years” that Nvidia’s stock would look cheap “in retrospect” because Nvidia’s profits have consistently far exceeded expectations. Kramer lamented:
“I documented this many times, but for a long time no one seemed to understand.”
Why didn’t people listen to Cramer at NVIDIA?
Jim Cramer wondered why people couldn’t foresee the potential of NVIDIA Corp (NASDAQ:NVDA) all these years ago. Jim Cramer believes part of the reason no one heeded his advice on buying Nvidia stock was because of concerns related to the Fed. Cramer says it makes sense to keep an eye on the Fed, but given that you shouldn’t own stocks when interest rates are high, top stocks like NVIDIA (NASDAQ: NVDA) and Microsoft Corp. He said that he would miss out on the benefits of owning a . NASDAQ:MSFT). Cramer said he was making “millions of dollars” at a time when the Federal Reserve was aggressively raising interest rates. Kramer said too many people focus on unimportant details and “miss the big picture.”
Kramer’s advice: “Free yourself from the chains of macros.”
Cramer also said the Fed’s actions matter primarily to large hedge funds, which “only invest in the average.” Jim Cramer said people should realize “how little they (big hedge funds) talk about individual stocks.”
Jim Cramer said people should focus on blue-chip stocks like Apple Inc. (NASDAQ:AAPL) and Nvidia Inc. (NASDAQ:NVDA). This is because the management teams of these companies have a long-term vision, and investors are likely to benefit. “Stick” to them. Kramer said companies like Nvidia need “curiosity” and “free themselves from macro chains” to see their true potential before they get big.
11. Icahn Enterprises LP Common Stock (NASDAQ:IEP)
Number of hedge fund investors: 2
Jim Cramer has long been bearish on Icahn Enterprises LP Common Stock (NASDAQ:IEP). Earlier this month, he reiterated his bearish call for Icahn Enterprises LP Common Stock (NASDAQ:IEP), whose stock is up about 12% this year through February 25th.
“You don’t know what you actually own. If you don’t know what you own, Mad Money doesn’t recommend stocks.”
10. AST Space Mobile Co., Ltd. (NASDAQ:ASTS)
Number of hedge fund investors: 8
Jim Cramer is bearish on Texas-based space cellular broadband network company AST Space Mobile, Inc. (NASDAQ:ASTS) and recommends investors not buy the stock. “I don’t see any way or form of them making money, so I have to hold off on that,” Kramer said recently.
8 hedge funds in Insider Monkey’s database held shares in AST SpaceMobile Inc (NASDAQ:ASTS) at the end of Q4 2023. The largest stake in AST SpaceMobile Inc (NASDAQ:ASTS) is owned by Sander Gerber’s Hudson Bay Capital Management, which owns $4.5 million in AST SpaceMobile Inc (NASDAQ:ASTS) stock.
9. Bigcommerce Holdings Inc (NASDAQ:BIGC)
Number of hedge fund investors: 10
Jim Cramer was recently asked if he should buy e-commerce SaaS platform company BigCommerce Holdings (NASDAQ:BIGC) stock. Kramer’s answer was “no.” Because he thinks, “We’ve got Amazon.”
Cramer has long believed in top-shelf stocks like Apple Inc. (NASDAQ:AAPL), Nvidia Inc. (NASDAQ:NVDA), and Microsoft Inc. (NASDAQ:MSFT), with top-tier, top-quality players always available. I believe it will be. No matter what industry you’re in, buying out other smaller companies should be a priority.
8. C3.ai Inc (NYSE:AI)
Number of hedge fund investors: 15
Jim Cramer has said in the past that there is too much hype surrounding C3.ai Inc (NYSE:AI) stock. Earlier this month, he was asked about stocks again. Cramer said he doesn’t see any “earnings” there and can’t recommend stocks that have “no earnings.”
But Kramer praised C3.ai Inc (NYSE:AI) CEO Thomas Siebel, saying he is a “bankable guy” and has known Siebel for 30 years. .
To ride the AI wave, Cramer recommends acquiring Apple Inc. (NASDAQ:AAPL), Nvidia Inc. (NASDAQ:NVDA), and Microsoft Inc. (NASDAQ:MSFT).
Bireme Capital says this about C3.ai, Inc. (NYSE:AI) in its Q4 2023 Investor Letter:
“Our last new short position is with a company called. C3.ai Co., Ltd. (NYSE:AI). Originally named “C3 Energy,” C3.ai changed their name multiple times based on hot new trends they might have capitalized on. The “Energy” theme was about smart grids and cap-and-trade. The company later changed its name to “C3 IoT” to capitalize on the Internet of Things buzz. After that trend faded, the company acquired the “AI” ticker in December 2020 and changed its name again. This is a smart move if you want to sell your shares to a credible investor, but it’s irrelevant to the company’s business prospects. As Kerrisdale puts it, the company is “a small, cash-burning consulting and services business masquerading as a software company.”
7. Cal Maine Foods, Inc. (NASDAQ:CALM)
Number of hedge fund investors: 19
Jim Cramer was recently asked for his thoughts on Mississippi-based raw egg producer Cal Mayne Foods (NASDAQ:CALM). Kramer said this is a “stock you don’t need to own.” But Kramer said he likes Tyson Foods from a valuation standpoint.
When the dividend-paying company reported its results in January, it missed expectations for the second quarter. GAAP EPS for the quarter was $0.35, missing expectations by $0.48.Revenue for the quarter was $523.23 million, down 34.7% year over year, and $2.16 million less than expected.
Diamond Hill Small Cap Fund commented on Cal Maine Foods, Inc. (NASDAQ:CALM) in its Q3 2023 investor letter:
“The companies with the highest returns in the third quarter based on individual holdings included Civitas Resources and Calmaine Foods Co. (NASDAQ: Calm). Raw egg producer Cal-Maine Foods is well-positioned to capitalize on the growing trend toward cage-free and specialty eggs. In May, the U.S. Supreme Court upheld Proposition 12, which allows California to order only cage-free eggs to be sold in the state. This outcome will likely pave the way for other states to enact or maintain similar mandates, which should result in increased egg sales. There is long-term demand for Cal-Maine Foods eggs. ”
6. Surgery Partners Inc. (NASDAQ:SGRY)
Number of hedge fund investors: 22
Surgery Partners (NASDAQ:SGRY) is one of the stocks that Jim Cramer recommends investors stay away from. Cramer said last month he was giving the stock a “hard pass.” However, Surgery Partners Inc (NASDAQ:SGRY) stock is up about 4.4% year-to-date through February 25th.
At the end of Q4 2023, 22 out of 933 hedge funds held shares in Surgery Partners, Inc. (NASDAQ:SGRY). The most notable stakeholder in Surgery Partners Inc (NASDAQ:SGRY) was Henry Ellenbogen. Durable Capital Partners The company owns $175 million in Surgery Partners Inc (NASDAQ:SGRY) stock.
Instead of SGRY, Kramer recommends major stocks such as Apple Inc. (NASDAQ:AAPL), NVIDIA Inc. (NASDAQ:NVDA), and Microsoft Inc. (NASDAQ:MSFT).
Baron Health Care Fund said the following about Surgery Partners, Inc. (NASDAQ:SGRY) in its Q4 2023 investor letter:
“We have established a small position in the world Surgery Partners Co., Ltd. (NASDAQ:SGRY) is a leading operator of ambulatory surgery centers in the United States. Similar to Stryker, shares were sold during the quarter due to concerns about the impact of GLP-1 on the business, but we felt this sale was a buy. opportunity. The company primarily operates majority-owned centers in partnership with physicians and hospital systems to support medical advances, payers’ push toward lower-cost outpatient facilities, and the shift of surgical procedures from inpatient to outpatient settings. Benefiting from a multi-year trend. Patient/physician preference and convenience. The company’s strong organic revenue growth profile includes a mix shift to higher-precision, higher-cost orthopedic and cardiac procedures, increased patient volume through additional physician recruitment and medical specialty expansion, and improved payer agreements. , there are multiple driving factors. In addition to this organic growth, management plans to spend $200 million annually on acquisitions, leading to his mid-teens EBITDA growth. As the company executes its plans, we think the stock price could rise over the years. ”
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Disclosure. none. Jim Cramer: “Don’t buy these 11 stocks” Originally published on Insider Monkey.
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