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Squawk on the Street

Cramer's Morning Take: Nvidia 11/21/24

Squawk on the Street

CNBC

Business, News, Investing

4.1567 Ratings

🗓️ 21 November 2024

⏱️ 4 minutes

🧾️ Download transcript

Summary

Jim and Jeff break down the market reaction to this chipmaker’s earnings. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0

I'm Jim Kramer and you're about to hear a sample taken directly from today's

0:06.5

CBC Investing Club morning meeting.

0:09.0

We have a very confused market, Jeff, because if you have a stock that goes up, after

0:14.5

being down a lot like Nvidia, and it goes up a couple of bucks, then there's like heat-sicking

0:18.8

missiles going against it.

0:20.1

What I'm seeing is a more, and it knocks it back down. I'm seeing a market that does want to go higher. I'm seeing a market that basically says, if we have gains, let's take them. It's a very scalper-oriented market. And so what happens is that as long as yields are the same, you have people come in, if you want to exit. But right now we have a lot of exits

0:39.2

unless a stock is bulletproof. It gets sellers.

0:44.3

Yeah, it's a pretty volatile morning. I mean, NVIDIA is a prime example of that. Down last

0:50.4

night, up pre-market. You know, I think it got as high as maybe two, three percent

0:55.7

up just today and now back down one percent. So, you know, it's digesting the earnings report last

1:02.6

night, which, by the way, very strong quarter. Right. I mean, let's look at this. Okay, so this

1:07.2

morning it's at 140, all right? And I'm commenting on it very early, following me on Twitter or whatever. Then it goes all the way up here, and at this point I say, wait, well, not 160, one. I said, guys, it can't be that good. Don't come in and buy it up. Because you don't want to buy it up because there's a lot of people who bought it at 141, 14. And they want to just make a quick profit.

1:29.3

There's a lot of scalping going on with the name.

1:31.3

And that's because, Jeff, I know this sounds strange, but the conference call is really good, but it was hard.

1:37.3

And when you take, we all remember our classes, maybe high school or college, if it's a hard class and you're being graded hard,

1:45.7

you're going to go to another place, maybe different class.

1:49.2

I think there are people who are on that call and they gave up.

1:52.3

They didn't understand it and they moved on.

1:54.6

And therefore, they were trading blindly.

1:56.9

We have, I think, the model that best, are, our, your Bolton best explains

2:02.5

what's great about it.

2:03.5

Yeah.

...

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