TheStreet’s Jim Cramer said he is keeping an eye on Ambarella’s (AMBA) shares after the company reports quarterly results after the market close on Tuesday. Cramer calls it the ‘intellectual property’ behind drones and behind GoPro (GPRO). Cramer believes the company’s latest quarterly results matter because Ambarella is a battleground stock; it’s up very big off the bottom, but also down very big from the top. He tells investors to stay on the sidelines, because the markets are no longer in a bull market. Cramer noted that Citron Research has said the stock will move much lower. Cramer doesn’t recommend buying Ambarella on the dip until there is a correction on all stocks. Santa Clara, Calif.-based Ambarella is a developer of semiconductor processing solutions for video that enable high-definition, video capture, sharing, and display. Shares of Ambarella have risen more than 80 percent so far in 2015.
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