Jim Cramer, a well-known figure in the realm of finance and investment, has earned both praise and criticism for his dynamic presence.
Celebrated as the face of CNBC’s “Mad Money,” Cramer’s vibrant stock market assessments and polarizing forecasts have solidified his status as a prominent figure in the stock investing community.
On Wednesday, November 1, Cramer made yet another bold proclamation that is likely to spark extensive conversations on social media, particularly among those who have been critical of Cramer’s previous predictions.
Picks for you
Notably, the TV personality and former hedge fund manager released a new tweet, saying that Apple (NASDAQ: AAPL) and Nvidia (NASDAQ: NVDA) are the “two worst charts in the book.”
Here’s the full quote:
– Cramer said in his tweet.
“The two worst charts in the book are Apple and Nvidia, I say own these don’t trade these but it is so easy to make yourself right if you are a shortseller here. Easy as pie. That ease with which a stock can be knocked down reminds me of a 1990 setup against the regional banks. Anyone remember?”
What is Cramer trying to say?
In the first part of the quote, the 68-year-old CNBC host is clearly expressing his bearish opinion about NVDA and AAPL charts.
He suggests that, in his view, it’s better to hold onto these stocks as long-term investments rather than actively trading them.
In addition, Cramer the two stocks offer a unique opportunity for short sellers to profit from these companies. To explain why, he likened Nvidia’s and Apple’s stock charts to a similar setup he witnessed in 1990 when regional bank stocks faced comparable challenges.
Community’s reaction
Unsurprisingly, Cramer’s tweet was flooded with sarcastic comments. One X user collected more than a dozen likes by commenting “Buy it up people,” implying that the two stocks in question are about to surge just because Cramer is bearish on them.
“New bull market is here. Thanks Jim.”
– said another X user.
These comments are in line with what’s known as the “inverse Cramer” strategy. This approach involves taking a contrary stance to Cramer’s investing recommendations.
Although Cramer had a lot of success during his years as a hedge fund manager, he made several unsuccessful predictions that contributed to the birth of inverse Cramer. For instance, at the start of this year, he advised his followers to “get out of crypto,” specifically referring to Bitcoin’s (BTC) market value at the time.
Since then, BTC’s price more than doubled. Similar situations happened after his wrong calls on numerous other companies such as Disney (NYSE: DIS), Nvidia, Tesla (NASDAQ: TSLA), and more.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
