The fall-out following Jimbo's dreadful call on bio-pharma company Dendreon continues. A day after Cramer told his flock to sell, sell, sell, the company's anti cancer vaccine Provenge, was endorsed by an FDA panel, putting it one...
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The fall-out following Jimbo's dreadful call on bio-pharma company Dendreon continues. A day after Cramer told his flock to sell, sell, sell, the company's anti cancer vaccine Provenge, was endorsed by an FDA panel, putting it one step away from approval and the company's stock went up, up, up. Today, its value has tripled since Cramer made the call on March 28. WahWah. Now, we like to keep Mr Cramer on his toes, but even we must allow that he can make one screw up once in a while. Although the sense of shadenfreude did wash over us like a warm bath. But it was a big screw up. And it does illustrate the problem with Mr Cramer's type of off-the-cuff hucksterism. That said, people who blindly follow his advice without doing the research (and Cramer does tell his followers to do that, although how many actually do is subject for debate)kind of deserve to take a bath.
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