“Mad Money” host Jim Cramer advised short-sellers to stay away from GameStop and AMC as long as the meme stocks remain popular on Reddit. Subscribe to CNBC PRO for access to investor and analyst insights: https://cnb.cx/2Vtntx6
CNBC’s Jim Cramer said Wednesday he’s not sure why any investors are still betting against GameStop and AMC Entertainment, two of the so-called meme stocks popular on Reddit’s WallStreetBets forum.
The “Mad Money” host made his comments following a session in which GameStop shares rose almost 16% Wednesday and AMC advanced 19%. The stocks are up 37% and more than 60%, respectively, this week alone as the speculative trading that first took Wall Street by storm in January resumed.
“Anyone shorting AMC or GameStop is out of their mind. … WallStreetBets is too powerful, and trying to bet against them right now is just giving them more ammo,” Cramer said.[READ MORE]