Cerebras Systems Inc. (NASDAQ:CBRS) was among the stocks Jim Cramer discussed during Mad Money, as he highlighted a difficult backdrop for stocks. A caller asked whether it was “dead stock” and whether they should get rid of it. Cramer replied:

Yeah. Frankly, I think, it went up 36 points today. Gave you a nice bounce back. I’d cut it in half, and then if it goes up anymore, I’d get rid of the rest. This was a botched deal. This is what I most fear, okay? They obviously misallocated; they didn’t understand that the stock could open very big. They picked everybody off, and everyone who bought the stock in the last two weeks is underwater… actually, even three weeks.

That’s precisely what I don’t want to have happen. And I tell you, I’ve done these kinds of deals, I priced them, I’ve been in them, and it was done poorly. And now I just heard… [the caller] talk about how he did, and there are hundreds of thousands of people like [the caller]… You know, let me just tell you something, I fear that’s what’s going to happen this week, and it’s going to hurt you, and I’m trying to protect you. That’s all I’m trying to do is protect you.

Photo by Chris Liverani on Unsplash

Cerebras Systems Inc. (NASDAQ:CBRS) designs and manufactures an artificial intelligence compute platform featuring a specialized wafer-scale engine designed for high-performance generative AI and inference tasks. The company provides its proprietary systems and software to several clients, including hyperscalers, foundation model labs, and sovereign AI initiatives.

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