Cramer Says Stay Away From This Bitcoin Miner: 'I Don't Trust It'
Portfolio Pulse from Avi Kapoor
Jim Cramer advised investors to stay away from Riot Platforms, Inc. (RIOT), expressing distrust in the company. Despite this, Cantor Fitzgerald analyst Josh Siegler maintained an Overweight rating with a $19 price target for RIOT. Cramer also commented on Robinhood Markets, Inc. (HOOD), citing concerns over its customer exposure to options and Bitcoin. HOOD is expected to report a Q4 loss of 1 cent per share on revenue of $453.46 million. Cramer described Portillo's Inc. (PTLO) as a 'great quandary' and mentioned needing to research Soho House & Co Inc. (SHCO) further. Stock movements were noted with RIOT, PTLO, and SHCO experiencing slight changes, while HOOD saw a 2.6% gain.
January 23, 2024 | 1:13 pm
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NEUTRAL IMPACT
Cramer expressed concerns about Robinhood's customer exposure to options and Bitcoin. The company is expected to report a Q4 loss but saw a 2.6% stock increase.
While Cramer's comments could be seen as negative, the upcoming earnings report and recent stock gain suggest a neutral short-term impact as the market awaits actual financial results.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Cramer referred to Portillo's Inc. as a 'great quandary' without providing a clear direction, and the stock experienced a minor decline.
Cramer's ambiguous statement about PTLO as a 'quandary' does not provide a strong directional signal, leading to a neutral short-term impact on the stock.
CONFIDENCE 60
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Cramer mentioned needing to do more research on Soho House & Co, which recently promoted Tom Collins to COO. The stock had a marginal gain.
Cramer's lack of a definitive stance on SHCO, combined with the recent COO promotion, suggests a neutral short-term impact on the stock.
CONFIDENCE 50
IMPORTANCE 40
RELEVANCE 40
NEGATIVE IMPACT
Jim Cramer advised against investing in Riot Platforms, despite an analyst maintaining an Overweight rating and a $19 price target.
Cramer's negative sentiment could influence investors' perceptions negatively, potentially impacting RIOT's stock price in the short term despite the analyst's positive rating.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80