Post Content
Hut 8 Corp. (NYSE:HUT) is one of the
20 Stocks Jim Cramer Wanted You To Sell & Immediately Get Out Of. Hut 8 Corp. (NYSE:HUT) is a compute asset operator and Bitcoin miner. Its shares are up by a whopping 387% over the past year and by 23% since Jim Cramer discussed the firm on October 20th. Since it’s a Bitcoin miner, Hut 8 Corp. (NYSE:HUT)’s stock often follows the movement of the world’s premier cryptocurrency. As an illustration, the stock closed 11.6% lower on December 12th, on the day Bitcoin’s price fell below the $90,000 mark. Year-to-date, Hut 8 Corp. (NYSE:HUT)’s shares are up by 19.8%, with a notable dip coming recently after they closed 16.7% higher on April 8th. Earlier this year, between February 3rd and February 5th, the stock lost more than 24%. Some notable events during this period were a 10% dip in Bitcoin’s price and a weak earnings report from peer firm IREN. Here’s what Cramer had said about Hut 8 Corp. (NYSE:HUT) on Mad Money:
Image by Лечение Наркомании from Pixabay
“It’s making, it is making money, and so the, but it’s still a parabolic move, and you know that I feel that parabolic moves are very, very suspect. I think you should ring the register on some.”
While we acknowledge the potential of HUT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
Disclosure: None. Follow Insider Monkey on Google News.