CNBC’s ‘Professional BS Artist’ Jim Cramer Praised Another Bank, Stock Plunged 65% Three Days Later

NewsBusters ^ | 3/13/2023 | Joseph Vazquez

[JV3MRC]

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 value 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.

[escapefromboston]

I wonder how you get a job as a “talking head” it doesn’t seem like you ever have to be right

[DesertRhino]

Is there a point where his employer discusses his obvious incompetent status with him?

[Yo-Yo]

Cramer is a pump-and-dump artist.

[BuchananBrigadeTrumpFan]

Hope Cramer doesn’t praise my bank any time soon...

[plain talk]

This illustrates the perils of stock picking and trying to time the market. I prefer index funds.

[struggle]

I’m wondering if this guy secretly is giving messages to certain people to get out of certain investments.

[dfwgator]

Cocaine is a helluva drug.

[SaveFerris]

[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 value took a 65 percent nosedive during premarket trading on Monday morning after declining 33 percent the prior week,]

Cramer seems like a bank curse - like when Obama endorsed something

[DoodleBob]

NewsBusters again publishes the rantings of Mr Vasquez, who is either an idiot or a shill and knows very little about which he's writing.

He's also a recycler. This article is basically a repeat of this article from three days ago. How about some originality, dude?

Again, Vasquez seems to understand NOTHING about stock prices. Saying a stock is "cheap" has NOTHING to do with the price per share. He sees $320 a share and types like a monkey.

I expect the left to be the ignorant folks. But with this banking situation, many alleged conservatives are revealing their mouth-breathing tendencies.

[SaveFerris]

[Hope Cramer doesn’t praise my bank any time soon...]

LOL yeah no kidding

OTOH, I have about 60 cents total in one bank right now - maybe 1/2 of a candy bar’s worth ........

[RushIsMyTeddyBear]

🤔

[Angelino97]

I wonder how you get a job as a “talking head” it doesn’t seem like you ever have to be right

You don't have to be accurate. You have to be entertaining.

The job of any pundit (political, financial, sex columnist, parental advice) is to attract viewers, listeners or readers. They're not there to help you understand. They're there to coral you into clickbate, and then sell you to their advertisers.

If the product is free, you are the product.

[moovova]

Cocky little POS.

[JV3MRC]

LOL who spit in your cereal dude? You literally contributed nothing of substance to the conversation. Not only did you misspell his name, you’re reading into what Cramer said and extrapolating your own meaning from it. Cramer said the stock was “cheap” and it was trading at an expensive price. That was a hilarious irony. You’re claiming saying the stock was “cheap” has “NOTHING” to do with the price per share, but that’s assuming you even know what Cramer was talking about to begin with because he was rambling throughout that Feb. 8 segment when he was promoting SVB. Take a break from the internet.

[Carriage Hill]

Just do the opposite of what he say, and you’ll do fine.

Better yet, DON’T EVEN LISTEN TO THE AZZHOLE.

[Red Badger]

Whatever Cramer says, do the opposite..............why does that guy even have a job?................

[Bon of Babble]

IIRC - he is the one who said gold is a “trash investment” - I would bet he owns physical gold himself.

[cpdiii]

If gold was 10 dollars and ounce and Cramer said buy, I would sell! /S

[Night Hides Not]

He hasn’t been fired yet?

My work station is near the CFOs office, he’s got a big screen TV with CNBC on all day. It’s rather entertaining, seeing these little rats scurrying about, pontificating earnestly about the smallest of market movements.