Jim Cramer on 10 Stocks With The Biggest Declines Last Week

2. Akamai Technologies, Inc. (NASDAQ:AKAM)

Number of Hedge Fund Holders: 37

Akamai Technologies, Inc. (NASDAQ:AKAM) was mentioned during the episode, and here’s what Cramer had to say:

“Second is one that, it kind of took your breath away, which is Akamai Technologies, because… its experience, it’s a longstanding company, it fell 22.7% from Wednesday through Friday. Now this is a content delivery network that’s, like I tell you, it’s like the fast lane on the information highway. Akamai reported on Thursday evening and while the results were fine, well you know what matters more?

The guidance and the guidance was awful. Three analysts downgraded the stock on Friday and with good reason. Growth is slowing, margins are coming down, and Akamai needs to spend a lot of money to maintain its network. No, thank you.”

Akamai (NASDAQ:AKAM) provides cloud computing, security, and content delivery services, offering solutions to protect against cyberattacks, improve performance, and support web and mobile applications. Its services include media delivery, data analytics, and a range of cloud-based tools to help customers deploy and secure applications and workloads.