What's the deal with Hertz, a bankrupt company, asking a judge if the company can sell $1 billion worth of stock? MadMoneyOnCNBC's jimcramer sounds off.
10:24 am: Cramer suggests amateur investors are being gamed by Wall Street prostricking amateur investors on platforms such as Robinhood
by piling into beaten-up but popular stocks like airlines. "It's a game. If it weren't securities, let's say it was monopoly, let's say it's Draft Kings ... it would be so much fun," Cramer said on"Pick a couple of stocks, you gun them in the morning, and then you hope people are stupid enough and they buy them." The "Mad Money" host referenced shares of American Airlines and Carnival Corp. as two examples.
"If people wanted these stocks, there would be plenty of supply if they would just wait until 9:30 a.m.," Cramer said later on "Squawk on the Street." "But no, they're fomenting action. Once you foment action, it brings in suckers and then maybe they'll buy the stock thinking that there's something going on.
showed U.S. consumer sentiment advanced more than anticipated this month. The index of consumer sentiment came in at 78.9. Economists polled by Dow Jones had forecast a print of 75. Richard Curtin, chief economist of Surveys of Consumers, said sentiment was "paced by gains in the outlook for personal finances and more favorable prospects for the national economy due to the reopening of the economy.
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