Jim Cramer Says WallStreetBets, Reddit Has Altered Market Psychology
Jim Cramer has been discussing GameStop since the short squeeze in the stock started last week. .
"Oddly ["For What It's Worth" by Buffalo Springfield] might be an anthem for the younger investors who have flooded the Wall Street Bets site with positive commentary about GameStop (GME) , the long-in-decline brick and mortar store that has been the target of perpetual shorts all the way down from $47 five years ago to $4 in 2020," Cramer wrote in his Real Money column on Monday morning.
"I think the stock has gotten overvalued, and the insider selling has been pretty aggressive. I also think that one could argue that Cohen is a miracle worker and if the company were to take advantage of the stock's new height and sold stock it could actually reinvent itself in a solid way," Cramer continued.
So, has this short squeeze changed the psychology of the market?
Watch: Everything Jim Cramer Is Watching in Markets Monday
