Jim Cramer's Apple endorsement faces massive backlash from investors
- Jim Cramer advised viewers to hold onto Apple Inc. stocks as of Monday.
- Social media users reacted negatively, advocating for the opposite of his recommendations.
- The backlash reflects ongoing skepticism regarding the reliability of television stock analysts.
In the United States, financial analyst Jim Cramer's recent advice to investors was to own stock in Apple Inc. during a segment of his show "Mad Money," which aired on a Monday. This recommendation quickly sparked a strong negative reaction on social media, with users embracing an 'Inverse Cramer' strategy, which involves betting against Cramer's stock picks. Critics took to various platforms to express their dissent, some humorously suggesting to sell Apple shares. Others pledged to seek alternatives to the brand altogether. This reaction isn't unprecedented; Tuttle Capital previously established funds designed to profit from the inconsistency in Cramer's stock selections, illustrating the ongoing debate surrounding the credibility of TV stock analysts. Cramer's predictions have often garnered attention, but his recent advisory seemed to trigger an even stronger backlash, highlighting the doubts investors have about such public endorsements and the impacts they can have on market behavior.