A financial markets commentator and show host is known for sharing his hot takes and in some cases reversing his opinions: here’s how Jim Cramer is taking on investors in two of the most popular stocks among retail traders.
What Happened: CNBC host Jim Cramer rang the opening bell at the New York Stock Exchange Monday to celebrate the moving of his “Mad Money” show to the NYSE floor.
A day after celebrating the show’s move, Cramer took to Twitter Inc (NYSE:TWTR) to take on retail traders.
“It’s time for all the stonkers and the GME-sters and the AMC-ers to move on,” Cramer said in reference to GameStop Corp (NYSE:GME) and AMC Entertainment Holdings Inc (NYSE:AMC).
Cramer said investors in the companies are “bitter gamblers” who are now blaming him for their losses.
“It is time you go back to a real job and tell your mommies!!!”
The CNBC host also lashed out at another Twitter user who said Twitter users who follow Cramer are “attracted to shiny objects.”
“You do understand he does not hold any financial license and only talks stocks on the guide of entertainment,” the user argued.
Cramer responded to the user that might be a proclaimed AMC expert.
“What license do I need? A fishing license? I have taught or have run money for 40 years Mr. TLAPDOG from AMC. You, on the other hand, probably went to a lot of movies and consider yourself a genius for riding AMC down 40 points.”
Related Link: AMC Entertainment Q1 Earnings Highlights: Revenue And EPS Beat Estimates, CEO Highlights Strong 2022 Lineup
Why It’s Important: Cramer is known for reversing calls he has made. The show host spoke out publicly in support of AMC last year, celebrating the successful turnaround of the company under CEO Adam Aron.
“He’s basically just daring people to short him. Who do they think they are to bet against Adam Aron?” Cramer said.
Cramer said at the time in October 2021 that the valuation of AMC “makes sense.” This was when AMC shares were trading for over $35 compared to $17 today.
“Adam Aron is playing offense … don’t go against Adam Aron,” he said.
Cramer again supported AMC later in October 2021 with encouraging box office figures: “I know this is a meme stock, but the fact is that I continue to believe in Adam Aron.”
Cramer’s latest take on AMC and GameStop likely won’t sit well with retail traders, who could point to his previous positive takes on both companies.
AMC, GME Price Action: AMC shares are down 0.94% to $16.39 on Tuesday. Shares are down 50% over the last year and down 35% year-to-date in 2022.
Photo: Scott Beale/Laughing Squid via Flickr Creative Commons
