Jim Cramer slams Nvidia traders as ‘a bunch of clowns'

Core Viewpoint - Jim Cramer expresses concern over Nvidia's stock performance, suggesting that the current correction is not over and that many investors lack a solid understanding of the company, leading to panic selling [2][3][4]. Group 1: Investor Sentiment - Cramer criticizes pre-market buyers of Nvidia, labeling them as 'clowns' for their lack of confidence and subsequent selling during pre-market trading [1]. - He believes that the shareholder base of Nvidia is weak, indicating that many investors are not well-informed about the company's operations [2]. - Cramer emphasizes that investors should wait for panic selling to conclude before considering long positions at more favorable prices [4]. Group 2: Stock Performance - As of the latest update, Nvidia stock (NASDAQ: NVDA) was trading at $116.86, showing a slight increase from the previous day's close of $115.99, but still down 12.92% year-to-date [5]. - Technical analysis suggests a potential drop in Nvidia's stock price to levels between $95 and $70, although a significant pullback may not occur [6]. - Despite the current challenges, analysts, including Cramer, remain bullish on Nvidia, expecting that the price drop will be temporary [6].