As markets recovered on Thursday, CNBC’s Jim Cramer emphasized just how much of a battleground the tape has become in 2018.
“I think Amazon defines the modern-day stock market battlefield,” the “Mad Money” host said. “Here’s a stock that gave up 120 points in two days on rumors and stories about how President Trump hates Amazon.”
The chaos around the e-commerce giant was only made worse when the White House denied the reports before Trump took to Twitter on Thursday and criticized Amazon for its tax treatment.
Shares of Amazon lifted slightly into Thursday’s close as investors realized the president’s critiques consisted “more of fantasy than fact,” Cramer said.
“But the major point I need to make as we wrap up a largely dispiriting quarter is that if you can’t handle the news flow, both fake and real, you need to use this rally to lighten up, maybe even on Monday, [on] the names that have caused you the most fright,” Cramer told investors.
The “Mad Money” host noted how easily false accusations can decimate stock prices in this environment, arguing that it was time for investors to reassess the risks in the market.
“If you want to stick with this market, make sure you can handle these accusations from short-sellers and presidents that often turn out to be false or at least overblown,” he said.
With that, Cramer turned to his game plan for the week ahead: