Jim Cramer, a popular host of CNBC’s Mad Money believes he is mysterious crypto and stock advisor. He works on sharing investment tips for both communities but always ends up suggesting the opposite marks. So people always prefer to do the opposite way of whatever Cramer shares.
Now, the trending case is filed with the United States Securities and Exchange Commission (SEC) by an advisory firm, Tuttle Capital Management. Moreover, the case is against the investment ideas for the two new exchange-traded funds (ETFs) by Jim Cramer.
As per the SEC Act, the firm submitted the preliminary prospectus file with the SEC on October 05, 2022, for further approval. As a matter of fact, the entire market is happy that someone has filed for Cramer’s ETFs to the authorities.
Cramer’s ETFs Under SEC Investigation
After the filing the advisory firm is eagerly waiting for the positive approval to launch the two new ETFs namely, a short ETF – Inverse Cramer ETF (SJIM) and a long ETF – Long Cramer ETF (LJIM). In addition, these are purely stock-based assets and not cryptos.
More so, the filing holds a very clear objective expecting the SEC to provide positive investment results for the ETFs. By adding clear-cut statements, the company says,
“The investment tips are completely the opposite including the fees, expenses and the results of the ETFs advised by Cramer – popular host.”
Further, Tuttle Capital Management will consider the opposite mark of whatever is recommended by Cramer in public social media. More so, the filing has a highlighted statement reading, “At least 80% of the Fund’s investments is invested in Inverse ETF advised by Cramer.”
Earlier in August 2021, the same scenario happened in the market. It is Cramer’s most popular and notable tip to purchase Coinbase stock. As a note, the Coinbase stock was trading cheap at $248. Interestingly, when Cramer recommended it to buy, the COIN just plunged.
According to CMC markets the Coinbase stock is at $72.97 disappointing its investors.