CRWV is a meme stock that has surged but Cramer recommends taking profits

CoreWeave, Inc. (NASDAQ:CRWV) has gained 313% since its IPO in March and surged 8.9% ahead of the July 4th weekend. Jim Cramer called it a meme stock that has crushed short sellers. Cramer believes CRWV is overbought and rose due to a short squeeze, recommending investors take profits.

Cramer continues to discuss CoreWeave, Inc. (NASDAQ:CRWV) on his show, suggesting investors take half of their position off the table to play with house money. He praises the solid relationship between CoreWeave and NVIDIA, with the latter owning a significant portion of CoreWeave.

While CRWV shows promise, other AI stocks may offer better returns with limited downside risk. Investors seeking a cheap AI stock with potential benefits from Trump tariffs and onshoring can refer to a free report on the best short-term AI stock.

Read more at Yahoo Finance: CoreWeave, Inc. (CRWV) Is A Meme Stock, Insists Jim Cramer