Jim Cramer Says Nvidia Should Buy Shares on Thursday’s 8% Drop: ‘If the Cheapest Asset is Your Stock, You Should Buy It’

Nvidia Corporation (NASDAQ:NVDA) is one of many technology stocks falling Thursday. With shares down more than 8%, CNBC’s Jim Cramer recommends putting a record-breaking stock buyback to work.

Jim Cramer on Stock Buyback

In September, Nvidia announced a record-breaking $150 billion stock buyback, believed to be the largest of its kind. Put together with the remainder of a previous buyback, Nvidia’s board of directors has now authorized $235 billion that the company can use to buy shares when it wishes.

Cramer says today should be that day.

"Nvidia had $235 b buyback… It is time or when?" Cramer tweeted Thursday.

Nvidia had $235 b buyback.. It is time or when?

— Jim Cramer (@jimcramer) November 5, 2026

The “Mad Money” host later questioned why the company would wait to put the buyback to work as shares are falling.

"If the cheapest asset is your stock, you should buy it. Nvidia can buy and reload… or they can let it go down."

Cramer previously suggested that Nvidia should authorize a $500 billion share buyback to buy its undervalued shares earlier this year.

The $150 share buyback is good through fiscal 2028.

“Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders. This authorization reflects our confidence in the long-term opportunity ahead,” Nvidia CEO Jensen Huang said at the time the buyback was announced.

Earnings on Deck

With shares getting hit hard Thursday, investors are now bracing for what Nvidia will need to say next week for its quarterly financial results.

Analysts expect the company to report revenue of $109.17 billion and earnings per share of $2.48, up from $57.01 billion and $1.30, respectively, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in 16 straight quarters and beaten earnings estimates in 15 straight quarters.

Nvidia shares traded lower after the last earnings report despite a double beat, with guidance showing lower growth than recent quarters.

This could be one of Nvidia’s most anticipated quarterly reports, as it follows lower-growth guidance, with technology stocks selling off after the midterm elections and investors worried about AI and data-center trades going forward.

Nvidia Stock Price Action

Nvidia stock is down 8.6% to $182.85 on Thursday versus a 52-week trading range of $164.27 to $243.37. Nvidia stock is down 23.5% over the last month and down 3.2% year-to-date in 2026.

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