By Tyler Clifford, CNBC •
Updated 2 hours ago
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CNBC s Jim Cramer said GameStop and AMC Entertainment are presenting buying opportunities as the companies prepare to reinvent themselves. If you ve ridden them up from much lower levels, take a little off the table, the Mad Money host said. These stories could always get dinged. These companies now have the ability to reinvent themselves because higher stock prices have allowed them to raise capital, he said.
CNBC s Jim Cramer said Wednesday that shares of GameStop and AMC Entertainment are within buying range, but cautioned investors who got in on the stocks lower to protect profits from a big run.
Really, the existence of people getting whipped up and excited about a stock has happened, you know, it s happened around barbershops. It s happened around bars, Ohanian said in an interview on Squawk Box. Retail investors have just never been able to jump on an opportunity in real time, and this is what it s like in the age of ubiquitous social media. Meme stocks, it is a charming name, but I think at the end of the day, momentum investing is nothing new, added Ohanian, who in 2005 co-founded Reddit alongside current CEO Steve Huffman. Ohanian, now a venture capitalist, stepped down from Reddit s board last June.
Really, the existence of people getting whipped up and excited about a stock has happened, you know, it s happened around barbershops. It s happened around bars, Ohanian said in an interview on Squawk Box. Retail investors have just never been able to jump on an opportunity in real time, and this is what it s like in the age of ubiquitous social media. Meme stocks, it is a charming name, but I think at the end of the day, momentum investing is nothing new, added Ohanian, who in 2005 co-founded Reddit alongside current CEO Steve Huffman. Ohanian, now a venture capitalist, stepped down from Reddit s board last June.