CNBC’s Jim Cramer said Wednesday that GameStop and AMC Entertainment’s shares are in the buy range, but warned investors who got deeper into the shares to protect profits from a big run.
“I’m not against [buying] GameStop or AMC on these levels. GameStop is currently downstairs where I told you to call the box office in January, “the Mad Money host said.
GameStop stock rose 0.85% to $ 302.56 on Wednesday, and AMC closed the session at $ 49.34, 10.37% less than Tuesday.
“When you’ve ridden her up from much lower levels, take a little off the table,” said Cramer. “These stories could always be tarnished.”
The struggling companies’ stocks have soared on the Reddit-fueled retail market. GameStop has soared more than 1,500% so far in 2021. AMC has rallied more than 2,200% as of Wednesday.
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