Jim Cramer is flabbergasted by Gamestop’s epic run.
“I’ve never seen the guns like this. They can break shorts,” Cramer said Monday on his CNBC show, “Squawk on the Street.”
Trading by individual investors has led to massive rises in the Texas-based games retailer’s stock.
“I’ve never seen the guns like this. They can break shorts.”
Cramer said this is new territory for the market: “The mechanics of the market are breaking down. It’s arguable that these people are all one group.”
shares surged again Monday, after storming 51% higher on Friday. The spectacular gains came after short-selling firm Citron Research and speculative buyers organizing on Reddit clashed over the video-games retailer.
After the markets closed on Friday, Citron released a video arguing the stock was worth $20.