Morning Bell With Jim Cramer: Robinhood and GameStop

Jim Cramer shares stock-market news including GameStop's surge and veteran investor Charlie Munger's criticism of trading app Robinhood.
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Stocks were mixed Friday morning as tech stocks in the Nasdaq attempt to rebound from this week's selloff in the sector. Ark Innovation ETF reached a two-month low as Tesla and Bitcoin continue to slump.

Stocks moving in premarket trading Friday include DoorDash  (DASH) - Get Report, DraftKings  (DKNG) - Get Report, Etsy  (ETSY) - Get Report, Rocket Companies  (RKT) - Get Report and Salesforce  (CRM) - Get Report.

In the last episode of Mad Money, Jim Cramer said Nvidia is just the turbocharged growth story the market turns against when rates are rising.

TheStreet's Katherine Ross and Cramer are talking about GameStop's surge and veteran investor Charlie Munger's criticism of trading app Robinhood.

GameStop: Buy Or Sell?

Shares of GameStop  (GME) - Get Report resumed their unexpected rise Thursday from late-day trading on Wednesday afternoon.

Cramer said it is imperative for the company to say something and to hear from activist investor Ryan Cohen. "The SEC needs to call them and say you've gotta say something."

Cramer said his plan for GameStop was, for it to become the go-to place for crypto cards, that are coming out next month from Nvidia  (NVDA) - Get Report. "They need to be a clearinghouse for Bitcoin."

Robinhood

Charlie Munger, vice chairman of Warren Buffett’s Berkshire Hathaway insurance and investment group, on Wednesday, criticized Robinhood Markets and its competitors for taking advantage of uneducated investors.

Robinhood and other brokerages catering to novice individual investors are really supplying “gambling services” and make money in a “dirty way,” Munger said, according to Bloomberg.

Cramer said Munger's comments on trading app Robinhood were ill-advised.

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