Jim Cramer says he needed round-the-clock bodyguards after bashing GameStop during the 2021 meme stock frenzy that blindsided Wall Street and turned retail traders into a market-moving force.
The “Mad Money” host revealed the threats during an interview on Bloomberg’s “Odd Lots” podcast Monday, recalling that he was recovering from back surgery when GameStop shares went parabolic.
Cramer said he thought he was hallucinating when he saw the stock jump fourfold in days.
He pulled out his catheter and immediately phoned CNBC colleagues Carl Quintanilla and David Faber.
“[I] said, ‘This is ridiculous. Everybody has to sell.’ After that, it was 24/7 bodyguard,” Cramer said on the podcast.
He later called into CNBC’s “Squawk on the Street” from the hospital urging retail investors to cash out.
“Take the home run. Don’t go for the grand slam. Take the home run. You’ve already won. You’ve won the game. You’re done,” Cramer told CNBC’s “Squawk on the Street” viewers at the time.
GameStop shares briefly topped $400 in January 2021, a move Cramer argued was unsustainable. The stock cratered to about $10 by mid-February as the short squeeze unraveled.
Cramer, a former hedge fund manager, said the backlash from retail investors was immediate and fierce, forcing him to hire private security.
The threats came amid the height of the pandemic-era meme stock craze, when Reddit traders coordinating on forums like WallStreetBets drove GameStop, AMC and other struggling companies to record highs.
GameStop has remained volatile ever since. The stock still has a devoted retail following that periodically fuels fresh rallies, but shares are far below their peak.
Last year, GameStop shares saw sharp rallies that were triggered by Keith Gill, the influencer known by his online persona “Roaring Kitty.”
Gill reactivated his social media and announced large stock bets on GameStop, which briefly sent shares up as much as 70–75% in single sessions.
Trading volume and options activity spiked during these surges, mimicking the original 2021 meme-stock frenzy.
But each rally faded quickly, with shares tumbling after disappointing earnings and announcements of new stock offerings.
As of September of this year, GameStop was flat overall for the year but remains prone to sudden, social-media-driven spikes.
On Monday, GameStop closed around $27, down about 15% for the year.
