Jim Cramer warned about speculation and oversupply on Mad Money last night.
"High-growth stocks are under siege and, unfortunately, they're likely to stay that way for the foreseeable future, Jim Cramer told his Mad Money viewers Tuesday. What's ailing these high-flying tech names? Cramer offered up a list of reasons, none of which are going away anytime soon," TheStreet's Scott Rutt wrote in his Mad Money recap.
"First, Cramer said there's too much speculation in the market. Speculation, coupled with rising inflation, makes growth stocks trade more like penny stocks. Second, there's too much greed. This week's implosion of Archegos is the latest example of excessive greed gone awry," he continued. "The third is something Cramer's warned about for weeks -- too much supply. The market simply cannot handle the deluge of IPOs, SPACs, secondary offerings and direct listings. Every new issue hammers the market a little more."
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