Jim Cramer’s Price Predictions Ridiculed by Elon Musk, the Co-founder of Dogecoin.
Jim Cramer, the host of CNBC’s Mad Money show, has been mocked by Dogecoin co-founder Billy Markus and Tesla CEO Elon Musk over his reputation for giving incorrect price predictions. Markus sarcastically said “Jim Cramer is good at his job,” prompting Musk to reply, “The Force is strong with inverse Cramer.” This refers to the “inverse Cramer effect,” which suggests doing the opposite of what Cramer predicts to make money in the markets. Meanwhile, Cramer had encouraged investors to buy stock in Signature Bank and Silicon Valley Bank but both were closed down by regulators. The mocking by Musk and Markus took place just a few days after Cramer urged investors to sell bitcoin because of the banking crisis – however, BTC’s value rose $4,000 in three days after his remarks. Cramer has previously taken on cryptocurrencies including Dogecoin.