“The ninth best performer to date has been SVB Financial. Don’t yawn,” Cramer told viewers during a Feb. 8 episode of “Mad Money.”
“The ninth best performer to date has been SVB Financial . Don’t yawn,” Cramer told viewers during a Feb. 8 episode of “Mad Money.”of “biggest winners of 2023…so far” alongside blue-chip stocks such as Meta, Tesla, Warner Bros. Discovery, and Norwegian Cruise Line.
“This company is a merchant bank with a deposit base that Wall Street has mistakenly been concerned by,” Cramer said in the clip. Cramer touted the fact that the bank was “less dependent upon private equity and venture capital offerings.” He said that the stock was the “fourth-worst performer of 2022” though it was worth buying because “being a banker to these immense pools of capital has always been a very good business.”The Post has sought comment from CNBC.“One month ago, Jim Cramer urged investors to buy Silicon Valley Bank stock,” one Twitter user observed, adding: “Today, the bank was closed by California regulators, making it the 2nd largest banking failure in US history.
“If he specifically says either buy, buy, buy a stock, then we’re gonna go short that stock at the next practical moment,” Matthew Tuttle, the CEO of Tuttle Capital Management which launched the Inverse Cramer Tracker ETF,
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