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Prof Triggernometry
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CNBC’s ‘Professional BS Artist’ Jim Cramer Praised Another Bank, Stock Plunged 65% Three Days Later
Joseph VazquezMarch 13th, 2023 10:13 AM
Betting against the stocks that CNBC host Jim Cramer promotes appears to be a surefire way to make a fortune in the current stock market.
Cramer dumped a new load of bad stock advice during the fallout from the Silicon Valley Bank (SVB) collapse. He tweeted March 10 that “[First Republic Bank (FRC)] is new focus... very good bank.” However — just three days after Cramer’s tweet — FRC’s stock took a 65 percent nosedive during premarket trading on Monday morning after declining 33 percent the prior week, according to CNBC. Cramer just can’t seem to catch a break to save his apparently worthless reputation. Cramer’s latest goof comes just after the CNBC host found himself on the receiving end of cascading internet mockery for promoting SVB stock as a good buy just a month prior to the institution later suffering from the “biggest bank failure” since the 2008 global recession.
CNBC summarized that FRC’s stock plummet occurred “even after regulators’ extraordinary actions Sunday evening to backstop all depositors in failed Silicon Valley Bank and Signature Bank and offer additional funding to other troubled institutions.”
Fox News host Tucker Carlson called Cramer CNBC’s “professional BS artist” and just a “dumb person” after the Federal Deposit Insurance Corp. regulators shut down SVB and took control of its deposits. It appears Cramer’s embracing those monikers. “If [Cramer] ever endorses anything you’re doing, move to the Canary Islands, change your name because disaster is coming,” Tucker prophetically stated during the Mar. 10 edition of Tucker Carlson Tonight. It only took three days for another one of Cramer’s predictions to go kaput.
More here: https://newsbusters.org/blogs/busin...essional-bs-artist-jim-cramer-praised-another
The media regularly misinforms the nation on a host of issues.
