The Jim Cramer Curse Remains Undefeated

Jim Cramer’s Anti-Midas Touch Strikes Again: First Republic Bank Shares Take Nearly 50% Nosedive

It seems like being on the wrong side of the stock market is just part of Jim Cramer’s job description. The CNBC host recently doubled down on an embattled stock that took a nosedive soon after. On April 25, Cramer tweeted that “It looks like First Republic v. everything else judging from these fine earnings.” However, by the end of the day, First Republic Bank shares had plummeted nearly 50%, extending its year-to-date losses beyond 90%. This was its lowest closing level on record, according to CNBC.

Cramer’s Criticism

Matthew Tuttle, CEO of Tuttle Capital Management, criticized Cramer’s take, saying that it looked more like First Republic and everything else. To make matters worse, Cramer tweeted his nonsense just after FRC shares had already dipped 40% on April 24. Even TheStreet, which Cramer co-founded, ripped the CNBC host for blowing it yet again, saying “Jim Cramer Was Dead Wrong About This One Stock Prediction.”

Cramer’s Anti-Midas Touch

Cramer has become the epitome of an anti-Midas touch. Whatever he touches in the stock market appears to consistently fall apart. The now-defunct Silicon Valley Bank suffered the second-largest bank failure in U.S. history after Cramer pushed the stock as a “winner” in February. It seems that being stubborn and doubling down on a foolish position doesn’t yield dividends.

Conservatives Under Attack

Conservatives are under attack. Contact CNBC at [email protected] and demand it distance itself from Cramer’s wild stock takes.