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“If Jim Cramer Recommends Next Amazon Stock, I’ll Never Buy!” Users Drag CNBC Host Over His Coinbase Call 

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Crypto investors on Twitter are lambasting the CNBC host over his Coinbase call.


Following a spike in Coinbase’s stock (COIN) a week after Jim Cramer suggested that the San Francisco exchange could be probed, the popular CNBC host is being lambasted across various social media platforms. 

Recall that on July 26, 2022, Jim Cramer hinted that the San Francisco-based exchange could be probed by the SEC for offering crypto assets deemed as securities by the agency. 

“The Coinbase roll over on a possible SEC investigation is very bad news given that we don’t even know what it’s about. But they were always hoping to avoid SEC scrutiny,” Cramer tweeted. 

Coinbase Stock Soars 50% A Week Later

Interestingly, a week after Cramer made the tweet, the price of Coinbase stock soared more than 50%, thanks to the exchange’s partnership with the largest digital asset manager Blackrock. 

As reported by TheCryptoBasic, Coinbase partnered with Blackrock to offer cryptocurrencies to the asset manager’s institutional clients. Following the partnership, COIN soared 50% to $106 in the last five days. 

Instead of Cramer’s tweet affecting Coinbase’s stock value, COIN has been growing massively, thus prompting reactions from members of the crypto community. 

Twitter Users Blast Cramer

CNBC’s rival, the New York Post, shared some of the criticisms aimed at Cramer. 

Genevieve Roch-Decter, accountant and financial news analyst, said in a tweet: 

“I don’t care if a company is the next Amazon. If Jim Cramer is recommending the stock I will never buy.” 

In a similar development, Tony Edward, a popular cryptocurrency podcaster, also slammed Crammer, saying: “Never take financial advice from Jim Cramer!”

Another Twitter user, who goes by the username @nekitav1 said: 

“We have already known for years that he is always a bottom and top signal. Just need to do the opposite of what he preaches.” 

Coinbase has been in the news lately for both positive and negative reasons. Before the company announced its partnership with Blackrock, a former employee of the company was arrested and charged with conducting insider trading

 

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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