There is actually precedent for this. According to the Financial Times, an inverse ARK ETH — which bets against Cathie Wood's investment vehicle — is up 56%.
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Jim Cramer's been the butt of a long-running joke — and he's had enough.
The CNBC host has often been mocked for his stock and cryptocurrency picks.
A "buy" rating from Cramer is often regarded as the kiss of death — but if the Mad Money presenter urges his viewers to dump something, it's seen as an opportunity to get buying.
Now, an exchange-traded fund is being launched that aims to do the exact opposite of what Cramer recommends — meaning those who believe in the joke could put their money where their mouth is.
There is actually precedent for this. According to the Financial Times, an inverse ARK ETH — which bets against Cathie Wood's investment vehicle — is up 56%.
Multiple studies that have scrutinized Cramer's past recommendations have argued that he tends to be more accurate with buy ratings — and that, in part, might be because of the added publicity he gives these assets. In 2009, researchers concluded:
"While Cramer may be entertaining and mesmerizing to many of his viewers, his aggregate or average stock recommendations are neither extraordinarily good nor unusually bad."
Cramer Defiant
On Twitter, Jim Cramer's message for those behind the ETF was simple: Bring it on. He wrote:
"As always I welcome people betting against me. I have done this for 42 years. Those who know me know that you would have been betting against Apple at $5, Google since inception, Meta at $18, Amazon at $10, Nvidia at $25, and AMD at $5. I welcome all comers."
Cramer went on to brag that he's had great success with his crypto trades, too.
"I bought a farm with my Bitcoin winnings, all announced, and I bought a boat with Ethereum. All announced. Everything disclosed. I WANT you to bet against me. You do not do this for 42 years and lose money every year."
That didn't stop Crypto Twitter from reminding him of some of his grossly inaccurate calls.
One especially popular clip relates to when Cramer said he could see a 40% upside for Ether when it was trading at $2,970 earlier this year.
Fast forward to now, and it's lost over half its value.
