CNBC’s Jim Cramer recently made a statement about NVIDIA, a technology company known for designing and manufacturing graphics processing units (GPUs).
“I like adding NVIDIA to your portfolio if you haven’t, it just crossed the $1T market cap, it’s terrific, BUY”, he said.
However, investors won’t be taking it as a buy signal, based on Cramer’s history.
A significant dip in NVIDIA’s market position is expected, due to what is known as the ‘Cramer Curse’.
The idea behind the Cramer Curse is simple- if CNBC’s Jim Cramer says something is going to happen- the opposite will happen.
Cramer Curse has taken down companies like Western Alliance soon after Jim Cramer supported them on open platforms.
It is worth noting that NVIDIA’s shares shot up to 190% in eight months after Cramer trashed it first in Sept’22.