Elon Musk Takes on CNBC's Jim Cramer on Crypto Twitter – Coinpedia Fintech News
Famous market analyst, host of Mad Money on CNBC, and an anchor on Squawk on the Street, Jim Cramer has lately found himself on the wrong side of the market. Notably, Cramer’s investment ideas have turned out to be a meme, with most investors opting to short his ideas.
Cramer Lauds Defunct Silicon Valley Bank
Recently, Cramer lauded the defunct Silicon Valley Bank (SVB) just one month before it collapsed. He told his viewers that the bank’s stock price was “cheap” and ripe for a rebound this year after getting hammered in 2022.
Inverse Cramer Tracker ETF Outperforms the Market
Interestingly, an inverse Cramer tracker ETF has outperformed the market, thus making the CNBC host a joke to the investment circle. The Inverse Cramer Tracker ETF began trading on the Chicago Board Options Exchange on March 2. The ETF offers short exposure to Mad Money Host Jim Cramer’s stock recommendations.
Cramer Urges Viewers to Dump Bitcoin
During a Mad Money show earlier this week, Cramer urged his viewers to dump Bitcoin due to market uncertainties.
On the contrary, Bitcoin price is up over 28 per cent in the past seven days to trade around $26.2k on Friday. “I would sell my Bitcoin into this rally, believe me, and I had been a believer in BTC,” Cramer said.
Following the recent happenings with Cramer’s investment ideas, investors are more confident in shorting the veteran host. As a result, Dogecoin founder Shibetoshi Nakamoto indicated that Cramer is good at his job for directing investors correctly in the opposite direction. In response, Musk noted that the investment force is great with inverse Cramer.
Cramer’s Tracker ETF Garners Attention
Already, a Twitter account dubbed inverse Cramer has over 217k followers with huge online activity.
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