Jim Cramer, WallStreetBets and Crypto Twitter go to war

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Last Updated on 9 October 2022 by CryptoTips.eu

Jeroen Kok

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CNBC, the business television channel in the United States that has been making recommendations on stocks and crypto for many years, is starting an online war with crypto influencers and Wallstreetbets, the online stock exchange community on the social media platform Reddit.

One of CNBC’s biggest stars, host Jim Cramer, has been wrong about technology stocks and crypto predictions so many times this year that an “inverse Jim Cramer” fund has now been opened.

Influencers on Crypto Twitter and members of the WallStreetbets forum have already announced that they will invest heavily in the fund while CNBC can only hope Jim’s predictions are right from now on before they become a laughing stock.

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FinTwit and Crypto Twitter

Jim Cramer is a celebrity in the world of finance and crypto. The Mad Money show host is so well known that a movie has been made about his show starring none other than George Clooney and Julie Roberts in the lead roles.

YouTube video

Although “Money Monster” didn’t quite break box office records, it once again showed that Jim Cramer was the TV star of Wall Street, and that thanks to him, CNBC gets a lot of advertising revenue. Investors are watching Cramer and so companies want to show their advertising segments during his show.

However, this year has been a very badone year for Cramer. The stocks and crypto coins he recommends have mostly lost money, a lot of money in fact. So much so that “FinTwit”, which stands for “financial Twitter”, and crypto twitter, which stands for the collection of crypto influencers on Twitter, have launched a call to create a fund that always does the exact opposite of what Jim recommends.

On WallStreetBets, the online investor forum on Reddit, hundreds of users have already reported that they would invest in such a fund.

Short Jim

Matthew Tuttle of Connecticut-based Tuttle Capital Management recently launched the SJIM fund, which stands for Short Jim. Whenever Cramer makes a recommendation about crypto or stocks, the fund does just the opposite.

Crypto Twitter thinks it’s hilarious. Cramer is not amused. He replied to Crypto Twitter’s challenge, stating:

I bought a farm with my Bitcoin winnings, all announced, and i bought a boat with Ethereum. All announced. Everything disclosed. I WANT you to bet against me. You do not do this for 42 years and lose money every year.

This could all become very interesting.