CNBC’s Jim Cramer warned Thursday that the GameStop frenzy has everybody unrealistically looking for stocks that are about to triple. Subscribe to CNBC PRO for access to investor and analyst insights: https://cnb.cx/2Vtntx6
CNBC’s Jim Cramer on Thursday questioned “are prices real” on Wall Street anymore, as he exasperatingly tried to explain GameStop’s rally of as much as 175% over the past two days.
“I think the average American right now is trying to figure out how do I find a stock that triples,” Cramer said on “Squawk on the Street.” ”‘Forget what you guys are talking about with the FAANG. I want a triple.’” FAANG, an acronym coined by Cramer, stands for big tech stocks — Facebook, Amazon, Apple, Netflix and Google parent Alphabet.
“It is what people want. They want a triple. That’s not necessarily what we can provide,” the “Mad Money” host said. “Robinhood wants it. WallStreetBets wants it,” he added, referring to the online brokerage popular with young investors and the Reddit forum at the center of the GameStop saga.
Against the backdrop of the economic damage from the coronavirus pandemic, Cramer said incredulously that GameStop is “what’s gripping America” and the investing public.
The online-driven trading frenzy around the video game retailer ignited again Wednesday, when the stock doubled following the announcement of next month’s departure of Chief Financial Officer Jim Bell. The stock soared more than 70% again Thursday at one stage before cutting the gain in half in a volatile session.
Cramer said it seems unlikely that a CFO change could be the catalyst for such moves.
Ryan Cohen, a major GameStop investor and co-founder of online pet food retailer Chewy, and GameStop itself have been quiet during the outsized swings that began last month with a hedge fund short squeeze around $20 per share, which sent the stock soaring 2,300% to as high as $483. GameStop crashed below $50 by mid-February before Wednesday’s spike.
Cohen did post a cryptic tweet Wednesday afternoon, and that had Cramer and the other “Squawk on the Street” hosts speculating on Thursday morning what it could possibly mean.
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Cramer is so salty.. GME to the moon.
Anyone else buying tomorrow? Im appreciative of your astonishing channel.🥳
Why are they so butt hurt with these stocks going up? Just invest in your Moderna and leave us alone you drug addicts…
Jim and The NBC tree are fake news and corporate hacks.
Yay, the roaring 20's are back
how many white lines did you had cramer?
FCNBC
CRAMER IS FAKER THAN FAKE SILVER
It a Generation Problem who wants to Double or trippple money in a year.
Social Media like YouTube and Facebook.
This guy is a joke.
Hahahahahahaha the elite are scared
Making money on crypto assets especially on Bitcoins has been really difficult for me, I've lost a lot of money to the bitcoin market, I really need help making money on bitcoins, can anyone help ?
How DARE GameStop try and make crazy profits. Don’t they realize only Apple, Google and Amazon are allowed to swim in the pool of obscene financial liquidity?
I didn’t realize Louis CK was a financial pundit…..?
he mad lmao
Ryan Cohen needs to come out and recall shares. Then Boomer Jimmy and his HF buddies will really be done. GameStop was almost killed as a company up until recently, they are not going to sell more shares. No Way.
i love jim cramer he's like WSB's dad on TV
Ohhhhhh Grampa doesn't get it
Grampa doesn't like it
WE KNOW THE WHALES ARE IN TROUBLE AND WE WILL TAKE THEIR MONEY. WE WILL HOLD
It's ok Gramps
Whatever Cramer says do the opposite.
AMC +++++++++++++++
DIAMOND HANDS
The stick ran because hedgies we're covering shorts. But they won't say that
https://youtu.be/nVcH8u1TLuA
Sorry Jim, we're here to burn the entire system down because it's corrupt.
Like they say FAKE NEWS. They are protecting their on interest and elite friends. This is a free market but now the rich are losing and they want to regulate. Sad. Lol
If you think this was it, next weeks bout to be a war zone. I bought plenty of calls that are in the money this week and so thousands if not millions of people, just to give a headache to the HFs and shorties. You buy and sell stocks to become our ammunition in the options market. Whose side is left standing will ultimately decide the fate of the whole market.
Edit: We won this week by holding the line for GME at $101.74 and AMC at $8.01 a few seconds before closing when they were trying to bring it below these level to reduce the option contracts they are obligated to buyback next week. They failed and now the squeeze will happen again early next week!!!
Jim cramer doesnt even know the mcdonalds ice cream meme
Jim Cramer is still on the air? Yikes
Prices are not real …. TESLA is 1000 X PE
JC is the biggest talking turd alive, period.
Jim Cramer is a joke! Look at him, old, curmudgeon and fighting to be relevant.
Maybe it went up because WE LIKE THE STOCK AND BELIEVE IN THE COMPANY!
A guest on the TV spoke sometime last week about making over $431,000 in 4months with a capital of $100,000, which made me realize that as a beginner i have a lot to learn, so please assist me with any pointers or tips that would help me make this much profit, i want to invest for the new year.
GME TO THE MOON QUIT CRYING YOU DIDNT GET IN HAHAHA🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🌙
the force driving the stock up hundreds of percents in an hour is just as fundamental as the numbers that supposedly give a company value in any other instance
His body language and verbal communication just proved that he’s scared
Lets discuss the actual story. U dont cover the real deal. How about the naked calls that Chicago wrote. The talking heads on ur channel r trying their best to minimize the story u dont do justice to the underlying issue. U r a stock pumper. U do it daily. Analysts raise PT"s to line their pockets & thats ok? GME is being manipulated in a way that we will only understand if u do dd.
This is war between rich and poor we gotta win them .Do you wanna work 5 -9 then think about game stock buy and dont sell buy long calls ok 2022
What did market makers expect when trading costs went to zero. When I first started investing buying a stock was costing me 80 dollars to buy and 80 dollars to sell. You had to make damn sure of what you were buying was going to do good for many years to come. There was no day trading back then. Well, maybe if you were putting in and taking out millions anyways.
Sorry Jim. Nobody watches. Nobody cares. You're just a hedge fund shill. Do the opposite of what you thieves recommend and all is urgency and alarm! Its a zero sum game! don't wanna lose billions? Just cover! Get out of the short position! Like, when we set stop losses and get our positions stolen. Doesn't feel good does it?
I will be eating my ice cream on the moon. GME
This is beyond pathetic lol.
Dont forget, they were bidding stocks higher to force artificial pricing, which is already a crime. A little known fact, each time that you bid a stock up, there is a tiny little decimal point of money that is temporarily created. Normally, this dissipates within a few weeks after investment but with enough and fast transactions in a weeks time, fraudulent money is created and the Secret Service has opportunity when a investor makes any sale, even if SEC has nothing to show for evidence, which it has ample.
Cramer is such a toxic baby
WE LIKE THE STOCK
No one likes silver.