Financial analyst Jim Cramer's recent recommendation to "own" Apple Inc. (NASDAQ:AAPL) stocks has triggered a widespread investor revolt, with social media users loudly proclaiming their intent to do the opposite.
What Happened: CNBC's "Mad Money" host Cramer's Monday statement on X, "Apple, own it, don't trade it!" quickly became a catalyst for what traders call the 'Inverse Cramer' phenomenon—a strategy where investors systematically bet against his stock recommendations.
Online commentary ranged from satirical to scathing. One user, Tommy Famous, criticized Cramer as a "financial QVC" who has "led audiences into losses," suggesting his recommendations are more entertainment than serious financial advice.
— Tommy Famous (@TommyBeFamous) November 25, 2024
Jim Cramer, you've officially cemented yourself as the ultimate inverse indicator. Every word you utter is like a green light for the opposite trade. 'Apple, own it, don't trade it'? Nah, that translates to SELL IT IMMEDIATELY and SHORT IT TO THE GROUND.
You're not a market...
Notable social media reactions included Thomas Peters describing it as "a great run" but ultimately follows the Inverse Cramer strategy. Another user humorously suggested it's time to sell Apple shares. Some users even pledged to switch technology brands in response.
The phenomenon isn't new. In October 2022, Tuttle Capital launched ETFs specifically designed to track and potentially profit from Cramer's stock picks—including an "Inverse Cramer" fund that recently announced its shutdown.
Matthew Tuttle, CEO of Tuttle Capital, stated the ETF's original mission was to "point out the danger of following TV stock pickers" and demonstrate the lack of consistent accountability in financial media recommendations.
It is interesting to note that Cramer also predicted Vice President Kamala Harris's victory over now President-elect Donald Trump in the 2024 election on Nov. 4, according to CNBC. "I'm not sure the market's right about what a Harris presidency would mean for business, but at least now we have a blueprint for what Wall Street thinks it'll mean," he said.
Price Action: Apple's stock closed Monday at $232.87, up 1.31% for the day, with a year-to-date gain of 25.44%, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
