When looking at some of the most popular stocks among retail investors, including Robinhood (HOOD) - Get Free Report, AMC (AMC) - Get Free Report and GameStop (GME) - Get Free Report, Jim Cramer said the Reddit investor has a choice to make.
Robinhood stock plunged over 12% to $61.91 in intraday trading Thursday following a filing to sell 97.9 million shares over time.
The stock recently rallied well above its $38 initial public offering price following a lackluster Wall Street debut. Cramer credited the move higher to the Reddit investor Wednesday, urging buyers of the IPO to take profit in some of their positions.
Due to a lack of cash among retail investors, Jim Cramer said investors may need to choose between Robinhood and other popular "meme names."
Cramer told Action Alerts PLUS senior analyst Jeff Marks that AMC is topping his list due to the theater chain's upcoming earnings report Monday.
"AMC is the one in the fulcrum of worry," Cramer said.
Recap TheStreet Live: Everything Jim Cramer Is Watching 8/5/21