Are you ready to take your investing game to the next level? At Extreme Investor Network, we provide expert insights and analysis on all things money to help you make informed decisions and maximize your returns. Today, we’re diving into the recent craze surrounding stocks like GameStop and AMC, and what CNBC’s Jim Cramer has to say about them.
In a recent segment, Jim Cramer advised investors to steer clear of meme stocks like GameStop and AMC, which have seen massive rallies driven by social media hype. Cramer highlighted the irrationality of these stock prices reaching such elevated levels and cautioned against jumping on the bandwagon.
GameStop and AMC experienced significant spikes this week after “Roaring Kitty,” the individual behind the 2021 GameStop short squeeze, re-emerged online after a three-year hiatus. While both stocks saw gains of over 70% on Monday, interest in them has started to diminish as the week progressed.
Cramer pointed out that GameStop may be overvalued compared to its competitors in the electronic retail sector. He compared GameStop to Best Buy, noting that despite similar market capitalizations, Best Buy has stronger fundamentals and higher earnings projections for 2023.
On the other hand, AMC faces a different set of challenges. Despite raising $250 million amid its stock surge, Cramer warned that AMC’s looming debt of over $2 billion could spell trouble for the company by 2026. He described AMC as a “dead man walking” and advised investors to sell before it reaches a critical phase.
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