Is it entertainment or is it real advice?
A retail trader might have pushed Jim Cramer a little too close to an existential crisis earlier today. The trader, who goes by TDog AMC, pointed out that the host of CNBC’s Mad Money does not have any financial license, and is only talking about stocks on the program as a form of entertainment.
Cramer, who’s known to engage anons and trolls on Twitter, did not take it lightly. He responded to the trader directly and said that he has “taught” or has “run money for 40 years,” before attempting to insult the trader for “riding AMC down 40 points.”
And that was only the beginning. Cramer followed up with a few more posts hating meme traders, accusing them of blaming him for their losses.
The famously opinionated (and energetic) host then targeted Dave Portnoy and retail traders who presumably only started when Portnoy started his show. During the pandemic and until recently, Portnoy hosted Davey Day Trader, a live show where the Barstool Sports founder talked about the stock market and which stocks he was buying.
And he didn’t stop there. He followed up with a couple more ramblings, with one referring to a “stonk movement.”
Cramer’s probably used to being called out for not having a financial license by now as he gets the question a lot. Today’s mini-event seemed to have provided some much-needed catharsis to unload his thoughts on meme traders.
Back in 2012, he did tell a Twitter user that he used to have series 7 and 63, but not anymore.
Information for this briefing was found via Twitter. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.