"Fraud-U-Net". Oh, my God. That's a big problem.
I did watch Cramer's comments, and the interview that followed, and the impression I had is that Cramer was accusing internet CEOs and corporate insiders of P&D by selling into the hype when their stocks zoomed up, thus his "Fraud-U-Net" comment. The interviewers specifically asked Deeds if he had sold recently, or had registered to sell, and Deeds replied that he had not and was not planning on doing so at that price (which at that time was still high), because he thought it was undervalued.
Now, I see this as a very serious charge on Cramer's part, and unless he was/is ready to substantiate that charge with respect to Deeds and Wavephore, his comments are at the very least unprofessional and at the most chargeable.
As far as his comments on attempting to short Wavephore, whether or not that is his "job," a comment like that specifically directed at a company in conjunction with an interview of the CEO is bizarre. It's one thing if he were to state that he is shorting internet high flyers in general, or even if that he was going to short Wavephore in a slot isolated from the CEO's interview, but I do believe he had a brain short-circuit when he made that statement in that way at that particular time.
Concerning his other comments, I could care less. I agree with him that a lot of these internet companies are in a tulip bubble, and he has a right to say what he likes, just as I have a right to listen to him or turn him off. But this time he crossed way over the line. |
