It’s been said that “not all investors have the same investing style.” But Jim Cramer, with his contrarian strategy, arguably made many people poor. Now he has become a meme for his consistency in making wrong calls on the direction of cryptocurrency markets.
It is hard to know whether the stock market pundit believed in the calls he made regarding bitcoin over the years. Still, many of those that listened to him likely ended up on the losing side of whatever investment they made.
In July, for example, Cramer warned of a possible probe into crypto exchange Coinbase by the U.S. Securities and Exchange Commission. “Very bad news” for the firm, he said. Just one week later, Coinbase’s stock soared by up to 50%.
People got angry. But it was not the first time it happened. Neither will it be the last. “Never take financial advice from Jim Cramer!” crypto podcaster, Tony Edward, shouted on Twitter at the time.
Shilling Coinbase
Cramer “shilled” Coinbase in the past. When the stock debuted...
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