From CNBC · · 1m 40s
Nvidia CEO resigns; Cramer eyes AMD and retail stocks
Jensen Huang steps down as Nvidia CEO after personal revelations. Jim Cramer sees buying opportunities in AMD, Constellation Brands and Kimberly-Clark.
In brief
Jensen Huang steps down as Nvidia CEO after personal revelations. Jim Cramer sees buying opportunities in AMD, Constellation Brands and Kimberly-Clark. Nvidia CEO Jensen Huang resigned after reports of affairs. The stock recovered from fourteen percent losses, and Jim Cramer recommends taking profits while considering…
Huang resigns as Nvidia CEO
Jensen Huang immediately resigned as Nvidia CEO before the opening bell Thursday after news broke of affairs with an alleged Chinese spy and a direct report. Nvidia named CFO Colette Kress as interim chief executive.
Stock recovers from fourteen percent drop
Nvidia shares sank more than fourteen percent at their worst levels after Huang's resignation news broke.
Cramer on Kress and succession
Jim Cramer said Colette Kress is a great choice to steady the ship. He noted that many great choices exist both inside and outside the company to replace Huang on a permanent basis.
Cramer urges profit-taking on Nvidia
Jim Cramer made clear that investors sitting on huge Nvidia gains who have not taken profits should do so. However, he does not want members or the Club portfolio to abandon Nvidia stock completely.
Cramer wants to own AMD badly
The AI trade had been under pressure for weeks before Huang's resignation.Jim Cramer said he wants to move on from Intel and start a position in Advanced Micro Devices, Nvidia's chief rival.
“I want to own AMD so badly it's killing me.”
Two consumer stocks to buy now
Jim Cramer also recommended buying Constellation Brands, the Corona and Modelo brewer, calling it a huge buy.
The headline
Nvidia CEO Jensen Huang resigned after reports of affairs. The stock recovered from fourteen percent losses, and Jim Cramer recommends taking profits while considering AMD and consumer stocks.
