CNBC host and television personality Jim Cramer took to Twitter Inc. TWTR to take on cryptocurrency investors and young investors with a warning over “anger investing.”
What Happened: Cramer has been known to share his opinions on stocks and the market via Twitter. Over the years, he has also been outspoken with taking on retail investors and even blocking people who disagree with him on Twitter.
On Wednesday, Cramer took on certain investors with his new hot takes.
“Here’s how Jim Chill views it: vital that we get younger people out of the ‘invest by anger’ method and the ‘joke cryptos’ before we lose them like we lost millions in 2000-2001,” Cramer tweeted.
The CNBC host sees a repeat of what happened in 2000 to 2001 happening.
“Younger people in 2000-2001 lost everything because they invested in junk. We must stop that NOW before it is too late.”
Cramer said he was appealing directly to “Robin Hood people,” referencing the Robinhood Markets HOOD trading platform.
The reference of joke cryptos could refer to meme cryptos and altcoins.
“They cannot become another lost generation that bet on stocks, options, and other instruments not worthy of their money. They cannot invest by anger,” Cramer said in another tweet.
Why It’s Important: Interestingly enough, Cramer encouraged “stonkers” to bet on the Major League Baseball All-Star game Tuesday night.
“Please bet on the All-Star game. I see those Robinhood balances and I am worried you are losing everything,” Cramer tweeted. “I do not want to tell your folks you squandered the fed checks or that you are not working but buying bad cryptos.”
The tweets from Cramer come after he recently lashed out at Barstool Sports founder Dave Portnoy for his help in bringing new “stonk” people to the market.
“No offense to Portnoy but these ‘stonk’ people have so overstayed their welcome.”
The CNBC host also attacked investors in GameStop Corp GME and AMC Entertainment Holdings AMC earlier this week.
“It’s time for all the stonkers and the GME-sters and the AMC-ers to move on.”
Cramer said investors in the companies are “bitter gamblers” who are now blaming him for their losses.
“It is time you go back to a real job and tell your mommies!!!”
Cramer once praised new investors entering the market.
“New young investors could be the lifeblood.”
After previously being supportive of new investors in the stock market, Cramer has now launched an all-out blitz of attacks on new investors over the last several days.
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