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

Well-known television host Jim Cramer often sees his stock picks criticized when they’re wrong.

One stock he has been bullish on for years had a blowout quarter and has rewarded investors who listened to Cramer after he pulled the ultimate conviction on the name.

What Happened: Tech giant Nvidia Corporation NVDA reported first-quarter financial results that beat consensus estimates from analysts. The company’s guidance also came in significantly ahead of estimates, leading to many price target increases from analysts.

One person who was not surprised by the success of Nvidia was CNBC host Cramer.

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

“I am in awe of this man,” Cramer said on CNBC Thursday. “He’s so compelling, because, again he’s a teacher.”

I didn't name my dog Nvidia for nothing

— Jim Cramer (@jimcramer) May 24, 2023

Cramer showed off an Nvidia lanyard with a picture of his dog Nvidia Ragu Cramer, who was renamed in 2017 as the CNBC host showed the ultimate conviction in his stock pick by naming his rescue dog after the company.

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

Mr. Everest Nvidia meet the world! pic.twitter.com/5GvTecuNyz

— Jim Cramer (@jimcramer) June 20, 2017

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.”

Cramer is well-known for taking heat on his stock recommendations and his changing of opinion. The Inverse Cramer Tracker ETF SJIM launched this year, offering investors a way to bet against the stock picks of Cramer.

Related Link: Trading Strategies For Nvidia Stock AFter Q1 Earnings 

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 $9,518.33 today based on a price of $384.89 for Nvidia shares. This represents a return of 851.8% 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 69.1% 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.

Read Next: Betting Against Jim Cramer Now A Reality, What Investors Should Know About The Inverse Cramer ETF 

Photo: Shutterstock