Jim Cramer has some thoughts on the RobinHood traders.
He wrote about them in his Real Money column on Tuesday morning.
If it’s a day where we are hearing rumblings of successful testing, they buy certain stocks, same when we get some positive data about anything, but mostly airlines.
Who are these people? We often consider them to be RobinHood traders, which means a group of people who came in near the bottom of the stock market and have been coining money ever since.
Now I know this is antithetical to all the hedge funds out there and their camp followers. While Bill Ackman is quick to present his Armageddon rant as a sign of when you have to buy, a vicious circular reasoning coda, you did have nothing short of Ray Dalio, who has never been thought of as anything but brilliant, and Paul Tudor Jones, a sharp guy, all pronounce this market as stupendously dangerous.
Cramer notes that Wall Street has previously hated amateurs who try to invest in the stock market, but that's no longer the way he thinks that Wall Street should work.
Watch the video above for more.
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