GME - Jim Cramer Can't See GameStop Trading At $64 Or Even $44 Warns Against Meme Stock Mania: 'Responsible Move Is To Sell Sell Sell' | Benzinga
CNBC’s Mad Money host Jim Cramer has poked more holes in the new meme stock rally led by GameStop Corp. (NYSE:GME) and AMC Entertainment Holdings, Inc. (NYSE:AMC) after speculating over the possible issue of additional shares from both companies to shore up capital.
What Happened: “There’s no way these stocks should reach such elevated levels on their own merits,” Cramer said. He pointed out that GameStop’s market capitalization briefly reached $20 billion before settling around $15 billion.
“But people are buying and selling these stocks at these exotic levels. At the end of the day, it’s worth what they will pay for it,” he added.
Valuation Comparison: “I prefer to be a little bit more rigorous because I want something with staying power,” the Mad Money host said.
Cramer suggests comparing ...