- Mad Money host Jim Cramer exclaimed “why why why” in a segment on meme stocks on CNBC Wednesday.
- “I think we broke Jimmy,” one Redditor said in response to Cramer’s rant.
- Meme stocks have rallied this week amid renewed interest from retail traders.
Redditors on the Wall Street Bets thread think they may have broken CNBC’s Mad Money host Jim Cramer.
In a Wednesday clip from “Squawk on the Street,” Cramer went on a tirade about “Wall Street Reddit Bets,” as meme stocks AMC Entertainment and GameStop continued their rallies and squeezed short sellers.
“If you’re in a meme stock why would you ever sell it; they obviously are going to take it where they want to take it,” Cramer said. “Why ever sell into the maw of Wall Street Reddit Bets?”
“Why, why, why!” He exclaimed.
On Wall Street Bets, one Redditor posted, “I think we broke Jimmy” and added rocketship emojis next to the word “AMC,” a reference to the share price going up.
Another Redditor noted that Cramer misnamed the group, and others mimicked his repetitive “Why, why, why.” One said, “It looks like he hasn’t slept in a week.”
In his continued rant, Cramer said the army of retail traders are “powerful” but contrasted that by saying the group is “child’s play.”
In the same segment, Cramer suggested Redditors should make Beyond Meat their next target for a short squeeze. The faux-meat maker rallied as much as 16% in Thursday trading.
Wall Street Bets has ballooned to more than 10 million members since the GameStop frenzy that gripped Wall Street earlier this year.
The army of retail traders on the thread have poured into stocks like GameStop, AMC Entertainment, BlackBerry, and Virgin Galactic, in an effort to squeeze short sellers, driving billions in losses.
The latest data from ORTEX shows, short sellers have lost $1.77 billion on GameStop, AMC, and Virgin Galactic so far this week, as the share prices rally.
AMC continued its four-day rising streak Thursday, nearly doubling its price from the beginning of the week. Shares of GameStop fell slightly Thursday, but overall, the company, along with other meme stocks like Virgin Galactic and BlackBerry, have rallied throughout the week.