Shares of Nebius (NBIS) took a sharp dive during intraday trading, plummeting 5.06% as investors reacted to negative comments from prominent market commentator Jim Cramer. The "Mad Money" host declared that Nebius Group N.V. is losing money and deemed it "too speculative" for investment, recommending Dell Technologies Inc. (DELL) as a preferable alternative.

The sell-off comes in the wake of Nebius's recent third-quarter earnings report, which showed mixed results. While the company beat analyst estimates on its bottom line with a smaller-than-expected loss of 40 cents per share, it fell short on the top line. Nebius reported revenue of $146.1 million, missing the analyst consensus of $155.11 million.

Adding to investor concerns, Nebius announced an at-the-market equity program for up to 25 million shares, which could potentially dilute existing shareholders. The combination of Cramer's criticism, the revenue miss, and the potential share dilution appears to have soured market sentiment, leading to today's significant stock price decline.