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‘I’m on Palantir team’; Will inverse Cramer strike again?

'I'm on Palantir team'; Will inverse Cramer strike again?

Jim Cramer is widely recognized for his dynamic presence and bold takes on stocks and cryptocurrencies, bringing a blend of entertainment and insight to the financial world. 

Beyond his role as a host of the show “Mad Money” on CNBC, he has dabbled in many ventures, from directing market strategies as a former hedge fund manager to penning his thoughts as an author.

In a tweet on X on November 7, stock reporter Evan shared Cramer’s other opinion that is likely to spark debate on social media about Palantir (NYSE: PLTR), where he says:

“That was a dynamite quarter, we got an upgrade today…I disliked these guys for a long time, not anymore…I am on the Palantir team.”

What adds to the irony of this opinion is his historically hostile stance towards this stock when it was just priced at $8, leading many to miss out on this investment opportunity and its gains.

Twitter calls for shorting on Palantir stock after Cramer’s comments

In what seems to become a popular reverse trend, Cramer’s positive comments have sparked an outbreak of bearish comments against PLTR’s stock.

“The kiss of death. Why o why Jim, it was going so well !” wrote one X user.

Agreeing with the previous comment, another user commented, “ALWAYS go long on Inverse Kramer. This sounds like a major SELL signal right now.”

Whether it is just a popular thing to say or not, these comments draw their argument from Jim Cramer’s controversial opinions, which turn out to be widely off the mark and end up working in reverse of the given prediction on the stock market.

His notable recent misses include Bitcoin (BTC), Nvidia (NASDAQ: NVIDIA), and Tesla (NASDAQ: TESLA). Leading many investors to employ an “inverse Cramer” strategy, which is based on doing the complete opposite of popular investor comments.

Palantir price analysis

At the time of writing, PLTR’s stock is changing hands at $19.04 per share, with a positive change of 2.71% in the past day, and has been priced as low as $17.97 in this same period. 

Notably, it has skyrocketed in its yearly value with a change of 141.69%.

PLTR 24-hour chart  Source: Finbold
PLTR 24-hour chart Source: Finbold

However, with the positive recent news highlighting Palantir Technologies’ success in utilizing AI in the industrial spectrum, Cramer might be onto something, and a theory that contradicts him might prove short in the future.

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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