Well-known television personality Jim Cramer is known for changing his opinion on certain stocks and cryptocurrencies. Investors can often find Cramer being bearish on a stock he was recently bullish on, or bullish on a stock he was recently bearish on.
Cramer recently called out one of his favorite stocks in a surprising twist.
What Happened: Cramer shared a bearish take on NVIDIA Corporation (NASDAQ: NVDA) Monday during CNBC’s “Squawk on the Street.”
“I’m concerned about Nvidia,” Cramer said.
The television host highlighted the Ethereum (CRYPTO: ETH) Merge being an unintended negative catalyst for a company such as Nvidia.
“People who have been mining do not need them (graphics cards),” he noted.
Cramer said Nvidia was also struggling to make the transition to new sectors such as artificial intelligence, virtual reality and machine learning.
“We’re short Nvidia. It’s a loser.”
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