Jim Cramer: Stocks Have Been 'Very Wrong'

Publish date:
Video Duration:

Jim Cramer has a new theory about this market. 

He believes that people are not reading the full conference calls, or even press releases. 

He also thinks that this market is too focused on the speculation around the coronavirus. 

"Everything is in flux. Every aspect of this illness is dynamic and even the Centers for Disease Control may not be updating correctly. Am I seriously to believe that there are only 11 confirmed positive cases in this entire country as of yesterday when there are 20 on a Carnival Cruise ship off of Yokohama? If that's all there are -- and the CDC site itself seems to lack the most recent case, which makes it twelve -- then we are really wasting our time with this as the numbers from the real flu are far more devastating and the transmission far more lethal," Cramer noted in his Real Money column Thursday morning.

He believes that speculation is having some impact on the market. 

But what else has an impact on this market? His theory as previously stated.

"A new theory I have, which is that stocks have been very wrong. They open incorrectly, the conference calls I'm listening to people don't even read the end of the release. The algorithms take it somewhere and we're seeing that the most in Alphabet. Okay. Alphabet drops from trillion dollars. People say it's bad and a few days later it takes out where it was and it's fine. It's tiresome," said Cramer. 

 Watch the video above for more.