Cramer's Morning Take: GameStop 5/14/24
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 14 May 2024
⏱️ 3 minutes
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| 0:00.0 | I'm Jim Kramer and you're about to hear a sample taken directly from today's |
| 0:06.5 | CBC Investing Club morning meeting. |
| 0:08.5 | I do think we should comment real quick on what's happening in terms of GameStop. |
| 0:14.0 | Well, you had the best comment. You said it to me this morning. I used it on air. |
| 0:18.0 | Yeah, look, what I said, we don't know how long the story will go. We've obviously |
| 0:21.5 | saw in 2021 that there were multiple days of big gains. But, you know, if you could just looking at |
| 0:28.4 | the chart, we know how it ends with, right, with these companies. Well, I, I don't end well. This isn't, |
| 0:32.5 | this isn't our game. No, and I did express some, I would say, frustration on air. And I was like, you know, |
| 0:41.2 | come on, it's as big as bad. Then it passed Best Buy. Best Buy is a real company with a real yield |
| 0:46.0 | and good sales. And it's just like, this doesn't have any. It's the same revenues, has no game |
| 0:51.0 | plan, never put a game plan in place. Ryan Cohen has not been able to do anything other than make a lot of money on a bed bath |
| 0:56.6 | me on short, and why doesn't you just say test the water and sell 100 million shares at 40? |
| 1:03.3 | Okay? |
| 1:03.8 | And reinvent the company. |
| 1:04.8 | And I'd argue based off that announcement, it's open I made yesterday with Chat GPT40, |
| 1:10.0 | some of these new and improved chatbots that are going |
| 1:14.4 | to be powered using phones or tablets or computers. |
| 1:17.7 | Maybe that's what is needed to jumpstart this consumer electronic story. |
| 1:24.1 | Would you buy to Best Buy, of course? |
| 1:26.4 | Right. |
| 1:27.4 | And look, understand Best Buy as opposed to GameStop. I mean, GameStop is a company, that's just, that's a greater fool theory. We own a Best Buy, and we're hoping that the earnings are good because we have a big PC refresh. Very different story. There is no story for GameStop, which makes it very difficult for me to offer value. |
| 1:46.6 | Start your day with my outlook on the daily market every morning at 1020 a.m. |
... |
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