LLY - Apple Chipotle And Eli Lilly Stocks Baffle Jim Cramer With Unusual Moves: 'Authentic Stupidity Is A Perfectly Plausible Explanation' | Benzinga
Jim Cramer, the host of CNBC’s “Mad Money,” expressed skepticism regarding the recent market movements of Apple Inc (NASDAQ:AAPL), Chipotle Mexican Grill, Inc. (NYSE:CMG), and Eli Lilly And Co (NYSE:LLY).
What Happened: On Wednesday, Cramer questioned the rationale behind the market’s behavior, emphasizing that not all stock movements are logical, especially during earnings season, reported CNBC.
"Each day on this front is a reminder that you can't just assume all moves on your screen are the products of any intelligence, especially during earnings season when the market's overrun by idiocy," he said.
"So, when you see some action that doesn't make sense, keep in mind that authentic stupidity is a perfectly plausible explanation, especially when it's sending down stocks that should be going higher."
He criticized the treatment of Apple stock, stating that despite initial skepticism, the launch of the Vision Pro resulted in a significant shift in sentiment. Cramer has long been an advocate of Apple and was quick to recognize the value of the new virtual reality product before its official release.
Regarding Chipotle, Cramer believes it was a mistake for investors to be cautious due to poor earnings from other fast-food chains. ...