Squawk on the Street

Cramer's Morning Take: GameStop 5/14/24

Jim Cramer says this surging meme stock has no ‘game plan’. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake
CNBC Investing Club Disclaimer

Duration:: 3m
Broadcast on:: 14 May 2024
Audio Format:: mp3

CNBC Investing Club Disclaimer

Hi, I'm Ben Rosuto, wealth strategist at Janis Henderson Investors. Is a brighter future possible? At Janis Henderson, we think it is. For 90 years, we've worked to help clients achieve superior financial outcomes and fulfill our purpose of investing in a brighter future together. We know that this means our thinking and our investments are helping to shape millions of futures. At Janis Henderson, we are committed to helping you invest in a brighter future for the next 90 years and beyond. To learn more, go to Janis Henderson dot com. I'm Jim Kramer and you're about to hear a sample taken directly from today's CMC Investing Club morning meeting. I do think we should comment real quick on what's happening in terms of GameStop. You said the best comment you said to me this morning. Are you still in air? Yeah, look, when I said we don't know how long the story will go, we've obviously saw in 2021 that there were multiple days of big gains. But you know, if you could just looking at the chart, we know how it ends with these companies. Well, I just went well, this isn't our game. No, and I did express some, I would say, frustration on air and I was like, you know, come on, it's as big as bad. And then it passed best buy. Best buy is a real company with a real yield, good sales. You know, it's just like this doesn't have any, it's the same revenues, has no game plan, never put a game plan in place. Ryan Cohen has not been able to do anything other than make a lot of money on it. They bet me on short and why does he just say test the water and sell 100 million shares at 40. Okay. And remit coming. And I'd argue based off that announcements open, I made yesterday with chat GPT-40, some of these new, new and improved chat bots that are going to be powered using phones or tablets or computers. Maybe that's what is needed to jump start this, a consumer product story. Yeah. Right. Right. And you know, look, to understand best buy, as opposed to game stop, I mean, game stop is a company that's just, that's a greater full theory. We own a best buy and we're hoping that the earnings are good because we have a big PC refresh. Very different story. There is no story for game stop, which makes it very difficult for me to offer value. Start your day with my outlook on the daily market every morning at 10 20 a.m. Visit cnbc.com/morningtake to access all the benefits of being a CMC investing club network. All opinions expressed by Jim Kramer on this podcast and in connection with the CNBC investing club are solely Kramer's opinions and do not reflect the opinions of CNBC, NBC, Universal or their parent company or affiliates and may have been previously disseminated by Kramer on television, radio, internet or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Kramer. The opinions offered in connection with this podcast and the CNBC investing club are not an attempt to induce any particular trading behavior, investment or strategy. You should be aware of the risk of loss and following any strategy or investment discussed in the content from Kramer. To view the full CNBC investing club disclaimer, please visit cnbc.com/investingclubdisclaimer. What's on the horizon for financial markets? At PJIM, it's a question that over 1,400 investment professionals relentlessly research in pursuit of your long term goals, specialized across asset classes, but united in collaboration. Our teams provide global and local expertise. Our investments shape tomorrow, today. I'll see you tomorrow with PJIM, a leading global asset manager. You