Mad money starts now: hey i’m kramer welcome to mad money. Welcome to cray america. Other people want to make friends i’m just trying to help you make money. My job is not just entertainment, educating teachers so call me 1, 800, 743cmc or tweet me at jim cramer. This market has some of the absolute dumbest sellers. I have ever seen. Nothing! Oh no i’m, not talking about the whole market. We got a battle again between the dovers federal reserve and angry hedge funds, who see bond yields should be soaring in response to rampant inflation and it’s not happening that tug of war plays out every day, including the today dow gained 11 points. S p rose 0.19. The nasdaq, which is historically cheap if rates, remain this low rally. Point five. Nine percent, i think fed chief jay powell is right and the inflation inclusionists are mistaken, but reasonable people can disagree about monetary policy. No, no it’s, not it’s, not what i’m talking about that’s that blabbers that you’re all dead, so i can’t see it it’s, like you, know something it’s like a it’s like a perpetual, sound machine. No, i am talking about the idiotic sellers. Yes, i mean the shorts and the brain dead, plain vanilla sellers who keep selling the sainted stocks of amc and gamestop to the mobs mobs who are determined to take it higher. They want them higher, listen. I know these stocks are too expensive based on traditional evaluation.
Metrics, they mean nothing who wants to go back to amc’s movie theaters, now we’ve spent over a year perfecting our home entertainment setup, getting used to longer form productions like like mayor of east town or the the crowd queen’s gambit, who wants to pay 20 bucks for A couple of watters and a box of raisin hats, plus the few cup, the film companies – well they’ve changed the game right. They now want their first runs to appear on their own streaming services. Plus you think amazon won’t do that with mgm if they buy that. If you want to see the next bond, you need, prime, which is a heck of a lot cheaper than going to the movies alexa play goldfinger. So believe me, i get the bear case. I get why so many hedge fund managers think that amc’s like the walking dead season 11, even with the crafty adam aaron running the joint. If you only cared about the fundamentals, including the laden balance sheet, you would have thought betting against this stock would be like. Yes, shooting fish with a machine gun in a barrel, but aaron took one look at the hopelessness of the situation he put his best face on it, talk about any state that opened a movie theater anywhere, even if he hoped that. Well, you know what the customers will will take these like hey. I take this to every movie. Theater you’re allowed to carry it in anyway.
What he didn’t count on was the most amazing force, i’ve seen in ages, a group of ferocious buyers who hated the short sellers, visceral visceralistly investorization and allowed amc to raise cash by selling stock in the open market endlessly. Normally, most buyers would run away from a supposedly doomed situation, but the tip sheet that is wall street bets a wonderful site full of scatological, employee and horrible things that i hope my kids never see. I created a cadre of buyers who didn’t care about the usual standards. You know like things like sales revenue, cash flow down, balance sheets, these outdated silly little things. No, they lapped up all the stock that amc sold, 43 million shares at just around 10 and they saved the day for the happy warrior. It was brilliant, they got him a great price and then the stock was free to ramp higher and it has ever ramped higher what a rocket to the moon diamond. Something at this point. It should be obvious that if you try to a short amc, you’re going to end up just like the guys who shorted it in january you’re, an idiot the wall street bets crew will run you over. Just like the tanks won’t over hapless soldiers in world war ii, if anything, shorting this kind of stock is what sends it higher. That’S gon na go up seventy percent when they raise capital, because when the bulls crush you it’s pimple on a partner, you got ta, buy back your shares at a higher price.
In order to close out your position, have you ever been? You know i used to own longhorns holy cow. They killed you just to get the box of donuts in your hands, so why the heck did many, so many hedge fund managers try to short this thing again. Why are regular sellers offering stock? Well, they could have just gotten out of the way. Instead, they turned themselves into fodder for the wall street bets cohort, which is why amc was up 19 just today. They can probably gun it up to the mid 20s from the back of this latest short squeeze and the plane. Vanilla sellers just walk away. Wow, you know what memo to all the sellers tomorrow take a breather. Go to the movies. Do something interesting. I don’t know what’s interesting watch some watch some netflix go to work even but stop selling your amc and see what happens and we’re seeing the same thing with the stock at gamestop. Now i was actually worried about this video game retailer, because it’s lost its reason for being in a world where everybody just downloads their games online. These days you don’t need gamestop, except for hardware, and anybody can sell you hardware, but gamestop it’s got a savior. The insurgent turned insider, whom nobody knows called ryan cohen. A man of great mystery. Who’S also decided to sell company stock in order to fix the balance sheet. Just like adam aaron, the wall street bets crowd helped make it happen.
Many agreed to lap up that stock that’s being offered and now that the balance sheet can be fixed by that. Not that it was all that bad and all that stock is now placed with the wall street best people. This thing can boom again, along with the ball game. Stop could potentially turn itself around, although we have no idea what it’ll turn itself around into. Is it really worth 17 billion abstraction? Who cares? Only an idiot asks that kind of question now it’s irrelevant, because this isn’t investing this is the ultimate stock fight club. You think i learned this stuff wearing a student goldman sachs, the two things that make them really hate me, the last time a bunch of hedge funds, shorted gamestop, the bulls, practically drove them out of business you’d, think that would be a cautionary tale right, don’t. Try to short something with such a rabid fan base. Keep your stock stay out of the ring. Yet these money managers and individuals keep selling the stock like there’s. Nothing going on here, like oh man, let’s offer some stock. Maybe the buyers will take us. Are you out of your minds, listen to me sunshine, this thing going higher what kind of chowderheads offer stock at 225 or 235? It closed up 33 to 242., two group of buyers who are desperate to drive it their price targets 250 or 300.. Now, on wall street they have these price targets. Oh i’m, taking my price target up for nvidia 700.
. These guys have real price targets and firepower. I’Ve, never seen anything like this. A group of buyers with no sensitivity to price they’d rather pay 280 than 240.. Can you imagine that you imagine going to a store, and you say well, how much is that sweater and they say 30.? Can i pay 50.? How much is that you know i got this one. This is a ferragamo right. 180. Bucks, hey, you know. What do you mind if i pay 300 for that? One? Okay, now these people don’t have unlimited firepower, but they’ve got enough firepower to engineer short squeeze any time a bunch of professionals decide to bet against this thing. Sellers go away. Come back going back. I was trying to do like a ditty. You know like uh. You know like that selling made nonsense that didn’t work sellers go away, come on back another day when game stops at 300. now it’s, not that the bulls know some secret about ryan cohen’s turnaround plan. They’Re just committed to buying this thing and they steamroll the shorts and they hate and lob up the long stock and they think they’re stupid, often much higher than you thought possible. Anyone who tries to fight this move is out of their minds. Just let it go up already. You can ring rancher at a higher level. I’M. Tired of you now there’s. One thing i don’t understand: the meme stock believers only seem to like amc and gamestop, but now they’ve got a lot of new capital.
Thanks to these rallies right, they can train their guns on any number of stocks. I got a couple for them and just because i they may take them just because they hate me and then spite me by saying that i said, sell them, because they love truth because it’s periodically interesting to them all right. Here we go first, they could open up the howitzers on the people selling beyond me, which is a gigantic 22 short position, even though it’s doing some incredible deals, mcdonald’s just now how about that china kfc deal wowza, plus the great reopening will allow ceo ethan brown To sell into all the different cafeterias that are back in business in the meantime, beyond meat is lowered, prices improve the taste of its plant based substitute. I think it’d be very easy for the wall street bets to gun this. One engineer short squeeze wipe out the shorts, make a lot of people pay and then go home and have uh how about how about a whitney’s bacon. There. Second ford all right, here’s the stock that jumped 8.5 percent. Today they like that immediately uh after ceo, jim farley, announced that he wants to be second to none in electric vehicles. Here in the us he’s throwing down the gauntlet against elon musk more important. If farley can pull up this transformation, the company will be able to plow even more money into ev, so it’s a virtuous circle. He intends to outsell tesla’s new cyber truck with the electric 5 f 150 truck.
Now. 70. 000 reservations. Okay, so maybe it should be. Eighty two thousand three hundred keep – basically i don’t know but it’s working sellers get out of the way here comes the bronco, the mustang monkey and the f 150 lightning america’s, most popular truck. Why sell this stock here walk away? Let him take it to 15.. All right, finally, how about roadblocks now i am relentless in this world box because it is going higher when the online gaming company came public view direct list and the insiders are very little stock. They’Re believers, the only real stock for sale, is from investors who bought it earlier are now ringing. The register, thinking it’s a good trade. I think that’s nuts roblox is putting up some stunning numbers again. It’D be easy for the wall street best crew to stop up a couple of days with a stock. Take it to 90, take it to 110, practically overnight then write all about it and say i hate kramer. You said this, he said to sell roblox and we bought it that way they get everything their whole zeitgeist, they’re, even happy, because they can trash me, and i like that, because i’m from philadelphia honestly, the craziest thing about the wall street vets crowd, is that they Don’T know their own strength, maybe they’re worried that they don’t have enough ammo to take on more than two stocks. I think they’re wrong. I think they’re selling themselves short here’s.
The bottom line. Anyone shorting, amc or gamestop is out of their mind. Anyone selling just walk away and watch how high they can take it wall street bets is too powerful and trying to bet against them right now is just giving them more. Ammo i’m just surprised they don’t apply the same playbook to the kramer wall street faves. To the man diamond hands, emoji emoji emoji beyond me, ford, roblox how’s, that that’s, why i went to harvard and harvard law to get stupid. Don’T miss a second of mad money. Follow at jim cramer on twitter. Have a question: tweet, creamer, hashtag mad tweets, send jim an email to madmoney at cnbc.com or give us a call at 1, 800 743 cnbc miss something head to madmoney.cnbc.com shepard smith.