If You Invested $1,000 In Nvidia Stock When Jim Cramer Named His Dog After The Company, Here's How Much You'd Have Today

Zinger Key Points
  • TV host Jim Cramer has been bullish on Nvidia Corporation for many years.
  • In a high conviction move, Cramer named his dog after the technology company.

Well-known television personality Jim Cramer often sees his stock picks criticized when they’re wrong. Investors wanting to bet against Cramer led to the introduction of the Northern Lights Fund Trust IV - Inverse Cramer Tracker ETF SJIM.

One stock Cramer has been bullish on for years and performed well is Nvidia Corp. NVDA. Cramer showed his ultimate conviction on the stock several years ago.

What Happened: Tech giant Nvidia Corp. reported second-quarter financial results Wednesday after market close that beat consensus estimates from analysts.

Wednesday’s second-quarter report marked the second straight quarter that blew away estimates and led to higher guidance. Many analysts raised their price targets Thursday on the heels of the report.

One person who has not been surprised by the success of Nvidia in 2023 is CNBC host Cramer.

Cramer has been outspoken on Nvidia for years, often praising the company, its co-founder and CEO Jensen Huang.

“I am in awe of this man,” Cramer said earlier this year after the first quarter results. “He’s so compelling, because, again he’s a teacher.”

After the first quarter results, Cramer showed off an Nvidia lanyard with a picture of his dog Everest Nvidia Cramer, reminding viewers that he renamed his dog in 2017 showing conviction in his stock pick by naming his rescue dog after the company.

On June 20, 2017, Cramer shared a picture of his dog Everest and said he had been given the second name “Nvidia.”

Cramer said dogs should not have only one name and should be given two names to make it more formal.

“He has a last name and his name is Nvidia,” Cramer said at the time. “I think every dog deserves a last name.”

Cramer recommends naming dogs after “a stock that’s been good to you.”

While he has often been bullish on Nvidia, Cramer shocked some viewers in September 2022 when he said he was concerned with the tech stock and was now short.

“I’m concerned about Nvidia,” Cramer said at the time.

Cramer called the Ethereum Merge a negative catalyst for the company as people who mined crypto would need less graphics cards. The TV host also said the company was struggling to transition to new sectors like artificial intelligence and virtual reality.

“We’re short Nvidia. It’s a loser.”

Since then, Cramer flipped back to the bull side and has been highlighting the stock’s future growth, as shares of Nvidia have hit all-time highs on several occasions in 2023.

Nvidia is up over 230% year-to-date in 2023 and the stock is the best-performing S&P 500 Index component.

Related Link: Here's How Much The Wealth Of Nvidia CEO Jensen Huang Has Grown In 2023

Investing $1,000 in NVDA: Investors who invested in Nvidia shares after Cramer’s canine announcement have been pleasantly rewarded.

A $1,000 investment in NVDA shares at the high price on June 20, 2017, could have bought 24.73 shares, based on a split-adjusted price of $40.44.

The $1,000 investment would be worth $11,772.22 today based on a price of $476.03 for Nvidia shares. This represents a return of 1,077.2% over the last six years.

How does Cramer’s conviction play and pick based on his dog’s name compare to the overall market?

A $1,000 investment in the SPDR S&P 500 Global ETF Trust SPY, which tracks the S&P 500 Index, would be up 99.5% over the same time period.

In this case, it paid to listen to Cramer and invest in Nvidia after his dog got a new name.

Don’t feel too bad if you missed out on investing in Nvidia stock when Cramer renamed his dog. Former Speaker of the House Nancy Pelosi reported a loss on selling Nvidia shares in 2022 and missed out on millions she could have today if she had held or waited to sell.

Read Next: Nvidia Breaks To New All-Time High, Flashes Signal The Local Top Is In: This NVDA Bear ETF Offers Leverage

Photo: Laughing Squid via Flickr Creative Commons

This article is updated from an article published on May 25, 2023. 

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