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GameStop frenzy leads to unrealistic expectations for returns

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CNBC’s Jim Cramer on Thursday questioned “are prices real” on Wall Street anymore, as he exasperatingly tried to explain GameStop‘s rally of as much as 175% over the past two days.

“I think the average American right now is trying to figure out how do I find a stock that triples,” Cramer said on “Squawk on the Street.” “‘Forget what you guys are talking about with the FAANG. I want a triple.'” FAANG, an acronym coined by Cramer, stands for big tech stocks — Facebook, Amazon, Apple, Netflix and Google parent Alphabet.

“It is what people want. They want a triple. That’s not necessarily what we can provide,” the “Mad Money” host said. “Robinhood wants it. WallStreetBets wants it,” he added,…



Source cnbc.com

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