Nebius Group N.V. faces continued downward pressure as television personality Jim Cramer warned investors that the stock is "not done going down." Cramer stated that Nebius is at the nexus of current market craziness and advised against buying at current levels, suggesting there will be a better time to purchase shares in the future. The comments were made during a Thursday night episode of "Mad Money."

The stock's recent performance aligns with Cramer's cautionary stance. Nebius has declined approximately 20% over the past five days and is down 35% over the past month. This negative momentum places the company in contrast to other tech stocks like Microchip Technology, which Cramer suggested is nearing a bottom.

The broader technology sector is experiencing significant turbulence, contributing to the volatility surrounding Nebius. SoftBank recently tumbled 11% in Tokyo, a decline attributed to a global AI sell-off that is impacting tech momentum stocks. This market environment has created uncertainty for investors in the information technology space.

Recent whale activity alerts indicate significant movements in information technology stocks, including Nebius. These large-scale transactions highlight potential trading opportunities but also underscore the volatility currently defining the sector. Investors are navigating a landscape marked by sharp sell-offs and rapid price fluctuations.

Cramer's advice to wait for better prices reflects a broader strategy of caution amidst the current tech sell-off. While he sees potential bottoms in some areas, Nebius remains a stock he believes has further room to fall before presenting a viable buying opportunity.

Nebius Group N.V. shares rose 3.10% to $289.62 on Thursday, driven by the announcement of its upcoming inclusion in the Nasdaq-100 Index. The stock is trading 23.1% above its 20-day SMA ($233.76) and 132.2% above its 200-day SMA ($123.94), signaling a sustained long-term uptrend. The index change will take effect before the market opens on Monday, following Nasdaq's quarterly reconstitution.

Nasdaq-100 Index Inclusion Confirmed

The Amsterdam-headquartered AI cloud company will officially join the Nasdaq-100 Index. Market commentator Jim Cramer explicitly called the index change a "big deal." The inclusion has drawn notable attention as U.S. markets prepare to close Friday for Juneteenth National Independence Day.

Eigen AI Acquisition Finalized

The upward price movement also follows momentum from earlier in the week. Nebius announced it completed its acquisition of Eigen AI, an inference and model optimization firm, on June 10. The transaction, initially disclosed on May 1, received necessary regulatory approvals and satisfied customary closing conditions.

Short Interest Data Declines

Market data shows short interest in Nebius declined during the latest reporting period, falling to 44.30 million shares from 45.10 million shares. This short position represents 20.73% of the company's public float. Based on Nebius's average daily trading volume of 17.32 million shares, short sellers require approximately 2.56 days to cover their positions.

Critical Technical Levels for NBIS Stock

NBIS is in a powerful long-term uptrend, with the 20-day SMA above the 50-day SMA, and the 50-day SMA above the 200-day SMA—two bullish alignment signals. Momentum-wise, MACD is above its signal line and the histogram is positive, pointing to improving upside pressure.

With the stock near the top of its 52-week range ($43.89 low to $297.93 high), traders are watching for a breakout above the prior peak. Key resistance is at $297.93, while key support sits near $233.76.