'Was I too close to the company?'
Jim Cramer Admits He Got The Metaverse, Meta And Zuckerberg Completely Wrong
On Thursday, October 27, Jim Cramer admitted he was wrong about Meta and its CEO Mark Zuckerberg. "I made a mistake here. I was wrong. I trusted this management team. That was ill-advised," Cramer said. "The hubris here is extraordinary, and I apologize."
Why now? Because Meta announced its second straight quarterly decline and things aren't looking good for Zuck and co.
.@jimcramer: I was wrong to trust $META
— Squawk on the Street (@SquawkStreet) October 27, 2022
The tech giant’s Q3 results disappointed street estimates, sending the stock to its lowest levels since 2016. pic.twitter.com/Eg5d8q1XTv
It would've been a surprise had Cramer not apologized. On June 23, Cramer said he was far more bullish, some would say all in, on the metaverse and Meta. "You're talking about a cool place to work," he said on CNBC. His co-host David Faber pushed back but Cramer simply laughed him off.
