Jim Cramer has issued a warning about the bearish pressure on Nvidia Corp. (NASDAQ:NVDA) and Eli Lilly and Co (NYSE:LLY), stating that these two companies are crucial to the market's performance.

What Happened: Cramer, the host of CNBC's "Mad Money," took to social media platform X to highlight the increased bearish activity around Nvidia and Eli Lilly. He emphasized the significance of these two companies to the overall market.

"Bears looking for easy money are betting big against Lilly and Nvidia once again.. Those are the two keys to this market and don't you know it," Cramer wrote.

It's worth noting that Nvidia's stock has been on a downward trend since early July – the AI giant's shares have declined by nearly 23% over the last month. This decline was potentially influenced by the performance of Super Micro Computer Inc. (NASDAQ:SMCI) following its quarterly earnings report, where it missed margin expectations.

Meanwhile, Eli Lilly's stock was also trading lower on Wednesday. The company is expected to release its 2024 fiscal year earnings on Thursday before the market opens. Analysts are estimating an EPS of $2.70 and sales of $9.94 billion. For the previous fiscal quarter, Eli Lilly missed analyst estimates on revenue by 1.7%.

Why It Matters: Cramer's warning comes at a time when the market is experiencing significant volatility. Despite the recent market turmoil, Cramer has offered a reassuring perspective, suggesting that the current corporate earnings do not indicate an impending recession.

On the other hand, Nvidia's recent market turbulence caused the company to lose its most-valued company status, with its market capitalization dropping below the $3 trillion mark. On the other hand, Apple Inc. (NASDAQ:AAPL) managed to not only claw back its title of the world's most-valued company by market capitalization, it also retain its $3 trillion market cap despite the volatility in the tech sector.

Price Action: Nvidia stock closed at $98.91 on Wednesday, down 5.12% for the day. In premarket trading, the stock was down 0.46% at the time of writing. Despite this downturn, Nvidia's shares are up 105.42% year-to-date, according to data from Benzinga Pro.

Meanwhile, Eli Lilly's stock ended at $772.14 on the same day, reflecting a decrease of 2.65%, while it was down 0.41% in premarket trading. Year to date, Eli Lilly's stock has risen by 30.39%, according to data from Benzinga Pro.

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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote