CNBC Investing Club: Cramer’s Morning Take on CrowdStrike 2/23/26

SPEAKER_1 (0:00)

Oh, could this vintage store be any cuter?

SPEAKER_2 (0:03)

Right, and the best part, they accept Discover.

SPEAKER_1 (0:06)

Accept Discover? In a little place like this? I don't think so, Jennifer.

SPEAKER_3 (0:10)

Oh, yeah, huh.

SPEAKER_4 (0:11)

Discover's accepted where I like to shop. Come on, baby, get with the times.

SPEAKER_1 (0:16)

Right, so we shouldn't get the parachute pets?

SPEAKER_4 (0:19)

These are making a comeback. I think.

SPEAKER_5 (0:23)

Discover is accepted at 99% of places that take credit cards nationwide. Based on the February 2025 Nielsen Report.

SPEAKER_4 (0:30)

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Jim Cramer (1:01)

Jim Cramer here to share a short preview of my take on the market from today's members-only CNBC Investing Club morning meeting. Join the club for full access to the morning meeting every day at 1020 a.m. Visit cnbc.com/morningtake to sign up today. That's one word, morning take.

Let's go to the Friday Seller when it comes to Claude. What I tried to do, and I'll do it again tonight, is explain that we know that the companies involved who own companies that can be dis-immediated by AI are trading down, and that can be Blackstone and that can be Blue Owl, but it also could be CrowdStrike and it could be Palantir and it could be Palo Alto and Salesforce. And I am aware we're not oblivious to this. I mean, we come in, we own CrowdStrike. I talked about a post that George Kurtz put in on his LinkedIn page, and I recognize that these are dead meat, so to speak. So then you say, okay, what do you do as a portfolio manager when you know you have something, something to you, if you're a hedge fund, do you avoid it and then come back to it? Probably. We don't think there's anything fundamentally wrong with CrowdStrike, maybe the price of these multiples too high, but we're not nimble enough to get out and get in. I want people to know, it's not like we think it's done going down.

SPEAKER_2 (2:29)

No. And you are seeing selling, obviously. Friday, what happened was the cloud, excuse me, Claude Anthropic, they announced a Claude code security, you can scan code bases for security vulnerabilities and suggest software patches for human review. All the analysts that I can see that have written about this, all saying, no, this sell-off is wrong for the cyber security. It's insulated from AI disruption. UBS, they still see CrowdStrike benefiting from AI adoption. JP Morgan saying, not all software is subject to the same risk. Calvin saying, AI coding assistance don't disrupt cyber security platforms. None of this matters, obviously, today, because you just have people who want to rush to the exit door.

Jim Cramer (3:12)

Right.

SPEAKER_2 (3:12)

Because they see the stock going down and it's fighting the tape holding it, it's fighting the tape to buy it.

Jim Cramer (3:17)

That itself is not a good reason to sell something. If you believe that it's fundamentally being hurt, then you sell.

Then you say, well, then why don't you buy right here? Well, we can see the fear. It's not anything I haven't seen before. They'll come a level where it'll be overshot and we'll be able to tell that you are not going to get hurt in the actual fundamentals. We're not there yet. We're not at that level yet. Again, I'm going to reiterate, you're a someone who's quick and get in and get out. Well, I mean, yeah, sell and get back. We can't do that. Now, I'm not saying we don't like them. I am saying that this is a good fundamental stock, but I recognize that it could be down 28 percent.

SPEAKER_1 (4:02)

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