Jim Cramer's Favorite Chip Stock Is Getting Bought Again
The Cramer-backed chip play is back on the buy list at roughly the same price as mid-June. Here's why that matters.
When a stock circles back to your cost basis, you pay attention. That's exactly what's happening with Jim Cramer's latest chip darling — shares are hovering right around the same level the team paid in mid-June, and they're stepping in to buy more.
Doubling down at a previous entry price is a classic move. It says the thesis hasn't broken, the price hasn't run away, and you're getting a second bite at the same apple. For retail traders watching this name, that's a signal worth noting — the smart money isn't flinching.
Chip stocks have been a rollercoaster this year, whipsawed by AI demand headlines, export restrictions, and earnings volatility. When a high-conviction team sees a pullback to prior support and adds rather than folds, it tells you something about their confidence in the longer-term setup.
If you already own the stock, this kind of add-on buying from a visible, active portfolio is the kind of confirmation that steadies nerves. If you're not in yet, a revisit to a previous accumulation zone is as clean an entry signal as you're going to get in this market.
Watch price action around this level closely — if it holds, you've got a defined risk area to trade against. Continue reading at CNBC.