{"id":504414,"date":"2022-10-27T23:00:57","date_gmt":"2022-10-27T20:00:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/jim-cramer-chokes-up-as-he-apologizes-for-pushing-meta-stock\/"},"modified":"2022-10-27T23:00:57","modified_gmt":"2022-10-27T20:00:57","slug":"jim-cramer-chokes-up-as-he-apologizes-for-pushing-meta-stock","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/jim-cramer-chokes-up-as-he-apologizes-for-pushing-meta-stock\/","title":{"rendered":"#Jim Cramer chokes up as he apologizes for pushing Meta stock"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3718090e833\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3718090e833\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/jim-cramer-chokes-up-as-he-apologizes-for-pushing-meta-stock\/#%E2%80%9CJim_Cramer_chokes_up_as_he_apologizes_for_pushing_Meta_stock%E2%80%9D\" >&#8220;Jim Cramer chokes up as he apologizes for pushing Meta stock&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CJim_Cramer_chokes_up_as_he_apologizes_for_pushing_Meta_stock%E2%80%9D\"><\/span>&#8220;Jim Cramer chokes up as he apologizes for pushing Meta stock&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Jim Cramer <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to choke up during Thursday\u2019s broadcast of CNBC\u2019s \u201cSquawk on the Street\u201d as the investor apologized to viewers for previously recommending they buy shares of Meta \u2014 which tumbled to their lowest levels in six years.<\/p>\n<p>\u201cLet me say this,\u201d a somber Cramer told the CNBC co-panelists in a clip that went viral on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, addressing a Thursday rout in Meta shares that sent them plunging 25% in a single trading session.<\/p>\n<p>\u201cI made a mistake here,\u201d Cramer said, his voice halting and trembling as he spoke. \u201cI was wrong.\u201d<\/p>\n<p>In June, Cramer told his CNBC viewers that they ought to buy Meta stock because its CEO, Mark Zuckerberg, was \u201csimply unstoppable.\u201d Cramer touted the future of the metaverse, which is \u201ca cool place to go.\u201d <\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jim-cramer-meta-stock-01.jpg?w=1024\" alt=\"CNBC's Jim Cramer choked up live on the air on Thursday, apologizing to viewers for recommending they buy stock in Meta.\" class=\"wp-image-24428829\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jim-cramer-meta-stock-01.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jim-cramer-meta-stock-01.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jim-cramer-meta-stock-01.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>CNBC\u2019s Jim Cramer choked up live on the air on Thursday, apologizing to viewers for recommending they buy stock in Meta.<\/figcaption><figcaption><span class=\"credit\">CNBC<\/span><\/figcaption><\/figure>\n<p>The CNBC segment from June 23 even included a metaverse avatar of Cramer and other network panelists.<\/p>\n<p>Cramer appeared to be taken by Zuckerberg, gushing: \u201cMark knows I like to garden, I watched a garden\u201d using the virtual reality headset that is used to access the metaverse.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jim-cramer-meta-stock-03.jpg?w=1024\" alt=\"Cramer wore a pained expression on his face and looked to be tearing up as he laid out his mea culpa.\" class=\"wp-image-24428836\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jim-cramer-meta-stock-03.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jim-cramer-meta-stock-03.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jim-cramer-meta-stock-03.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Cramer wore a pained expression on his face and looked to be tearing up as he laid out his mea culpa.<\/figcaption><figcaption><span class=\"credit\">CNBC<\/span><\/figcaption><\/figure>\n<p>But the plummeting stock price forced the host to change his tune on Thursday.<\/p>\n<p>\u201cI trusted this management team,\u201d said a dejected Cramer, who was wearing a pained expression on his face as he unpacked his bad read on the company.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n<p>Cramer said that putting his faith in the current management team at Meta was \u201cill-advised.\u201d He added that he was surprised that the company didn\u2019t exercise more \u201cdiscipline\u201d in its spending.<\/p>\n<p>Cramer said he was particularly taken aback that Meta burned through its cash reserves in order to invest in the metaverse.<\/p>\n<p>\u201cI had thought there\u2019d be an understanding that you just can\u2019t spend and spend right through your free cash flow, that there had to be some level of discipline,\u201d Cramer said.<\/p>\n<p>When host David Faber asked Cramer what he got wrong, Cramer replied: \u201cWhat did I get wrong?\u201d he said, visibly choking up. <\/p>\n<p>\u201cI trusted them, not myself. For that I regret. I\u2019ve been in this business for 40 years, and I did a bad job. I\u2019m not proud.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" title=\"Jim Cramer on why Meta stock is a buy after interview with Mark Zuckerberg\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/s4R3B1xWslI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/span>\n<\/p>\n<\/figure>\n<p>The Post has sought comment from Meta.<\/p>\n<p>As of 3 p.m. Eastern time, shares of Meta were down more than 25%. They were trading at just above $97 a share \u2014 the lowest since 2016.<\/p>\n<p>Meta announced on Wednesday that\u00a0revenue dropped for the second consecutive quarter\u00a0as the company struggles with falling advertising sales due to stiff competition from rising social media app TikTok.<\/p>\n<p>The Menlo Park, Calif.-company earned $4.4 billion, or $1.64 per share, in the three-month period that ended Sept. 30. That\u2019s down 52% from, $9.19 billion, or $3.22 per share, in the same period a year earlier.<\/p>\n<p>Revenue fell 4% to $27.71 billion from $29.01 billion, slightly higher than the $27.4 billion that analysts had predicted.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/mark-zuckerberg-meta-facebook.jpg?w=1024\" alt=\"Cramer hailed Zuckerberg as &quot;simply unstoppable&quot; and gushed about his push into the metaverse.\" class=\"wp-image-24428825\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/mark-zuckerberg-meta-facebook.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/mark-zuckerberg-meta-facebook.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/mark-zuckerberg-meta-facebook.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Cramer hailed Mark Zuckerberg as \u201csimply unstoppable\u201d and gushed about his push into the metaverse.<\/figcaption><figcaption><span class=\"credit\">VIA REUTERS<\/span><\/figcaption><\/figure>\n<p>Cramer has gained a reputation online as an untrustworthy prognosticator of the stock market as Twitter and Reddit trolls have frequently trended the term \u201cInverse Cramer\u201d \u2014 the idea being that investors should do the opposite of whatever the CNBC personality recommends.<\/p>\n<p>One fund manager, Tuttle Capital Management, has taken the concept further, filing prospectuses for two Cramer-tracking funds \u2014 the \u201cInverse Cramer ETF\u201d and the \u201cLong Cramer,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/inverse-cramer-etf-is-coming-to-the-real-world\">according to Nasdaq.<\/a><\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/10\/27\/jim-cramer-chokes-up-as-he-apologizes-for-pushing-meta-stock\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Jim Cramer chokes up as he apologizes for pushing Meta stock&#8221; Jim Cramer appeared to choke up during Thursday\u2019s broadcast of CNBC\u2019s \u201cSquawk on the Street\u201d as the investor apologized to viewers for previously recommending they buy shares of Meta \u2014 which tumbled to their lowest levels in six years. \u201cLet me say this,\u201d a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":504415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jim-cramer-zuckerberg-meta-stock-comp.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[122306,134652,71739,73977,4974,71740,5077,70360],"class_list":["post-504414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-meta","tag-10-27-22","tag-cnbc","tag-dow-jones-industrial-average","tag-facebook","tag-jim-cramer","tag-mark-zuckerberg","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=504414"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/504415"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=504414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=504414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=504414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}