Cardano founder Charles Hoskinson humorously suggests Intel is dead following a supposed bullish call from CNBC Mad Money host Jim Cramer.
After several famous wrong calls, including about Bear Stearns over a decade ago as well as Silicon Valley Bank and Signature Bank in the past year, CNBC’s Mad Money show host Jim Cramer has become a meme on X as critics believe he is wrong all the time.
A problem with this infamy, however, is that his words can often be taken out of context for the sake of sensationalism, with critics quick to take the piss. Cardano founder Charles Hoskinson appears to be the latest such critic.
Cardano’s Hoskinson Pounces on Supposed Jim Cramer Intel Call
Cardano founder Charles Hoskinson has recently taken a swipe at a supposed call from TV pundit Jim Cramer.
“Well that’s it, Intel is officially dead,” Hoskinson quipped in a Monday, December 30 X post. The post links to a Yahoo Finance-hosted article with a headline suggesting that Jim Cramer had claimed that the chip maker was completely fine despite a terrible year that has seen its share prices decline by over 50%.
Well that’s it, Intel is officially dead
— Charles Hoskinson (@IOHK_Charles) December 30, 2024
Hoskinson’s post on the supposed Jim Cramer call has unsurprisingly sparked a flurry of similar reactions, with one user describing the pundit’s supposed backing as the proverbial “final nail in the coffin” for Intel.
However, there is one problem with these comments.
Out of Context
While the headline from the article linked by Cardano’s Hoskinson appears to suggest that Cramer is confident in Intel’s prospects, a closer look at the aticle reveals that it is actually the opposite.
The statement quoted in the article’s headline, which, by the way, originates from an August 12 episode of Mad Money, was made in sarcasm. In the four-month-old show episode, Cramer actually asserted that it would be ill-advised to get in bed with Intel.
So, aligning with the critic’s view of Cramer’s predictions, this statement should actually be positive for Intel. But reality suggests that making market bets solely on this narrative may be foolhardy.
The Inverse Cramer ETF, which tracks the pundit’s predictions to take the opposite position, is down 8.3% year-to-date (YTD).
So, is Intel dead or not? This remains to be seen, but analysts suggest that the imminent appointment of a new CEO and revitalization plans offer short-term boosts even though it may take longer to resolve more significant issues, such as its ability to take on competitors like Nvidia.
