GameStop frenzy results in unrealistic expectations for returns
“I believe the common American proper now’s making an attempt to determine how do I discover a inventory that triples,” Cramer stated on “Squawk on the Street.” “‘Neglect what you guys are speaking about with the FAANG. I desire a triple.'” FAANG, an acronym coined by Cramer, stands for large tech shares — Facebook, Amazon, Apple, Netflix and Google mother or father Alphabet.
“It’s what individuals need. They need a triple. That is not essentially what we are able to present,” the “Mad Money” host stated. “Robinhood needs it. WallStreetBets needs it,” he added, referring to the web brokerage widespread with younger traders and the Reddit discussion board on the middle of the GameStop saga.
Towards the backdrop of the financial harm from the coronavirus pandemic, Cramer stated incredulously that GameStop is “what’s gripping America” and the investing public.