Jim Cramer Explains GameStop Short Squeeze, What It Says About Stock Market Monday

And it’s Monday.

Stocks are mixed in intraday trading on Monday as investors look to see if President Biden can deliver another stimulus package that promises another round of stimulus checks to Americans.

During his daily interview with TheStreet Live, Jim Cramer noted an “amazing transition on the fly out of value and into select tech and healthcare, but not much more beyond that.”

But the monumental move in GameStop and its implications for Wall Street continued to dominate Cramer’s attention Monday.Â Â

Jim Cramer and Katherine Ross talk GameStopÂ (GME) – Get Report, ModernaÂ (MRNA) – Get Report, AppleÂ (AAPL) – Get Report, TeslaÂ (TSLA) – Get Report, Kimberly-ClarkÂ (KMB) – Get Report and more:Â

“This is one of the most amazing short squeezes…This is one of the wonders of the world,” Cramer said when discussing GameStop.Â

“Oddly [“For What It’s Worth” by Buffalo Springfield]Â might be an anthem for the younger investors who have flooded the Wall Street Bets site with positive commentary about GameStop (GME) , the long-in-decline brick and mortar store that has been the target of perpetual shorts all the way down from $47 five years ago to $4 in 2020,” Cramer wrote in hisÂ Real Money column on Monday morning.Â

“I think the stock has gotten overvalued, and the insider selling has been pretty aggressive. I also think that one could argue that Cohen is a miracle worker and if the company were to take advantage of the stock’s new height and sold stock it could actually reinvent itself in a solid way,” Cramer continued.

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