CNBC’s Jim Cramer urged viewers to buy Silicon Valley Bank stock last month

March 11, 2023

“One month ago, Jim Cramer urged investors to buy Silicon Valley Bank stock,” one Twitter user observed, adding: “Today, the bank was closed by California regulators, making it the 2nd largest banking failure in US history.”CNBC’s Jim Cramer was bullish on Silicon Valley Bank stock. CNBCCramer urged viewers to buy shares of SVB’s parent company during a Feb. 8 episode of “Mad Money” on CNBC. CNBCAnother Twitter user wrote: “At first it was funny that Jim Cramer was always wrong.”“Now it’s extremely sad how many people and families he’s destroyed by always being wrong.”CNBC anchor Jim Cramer urged viewers last month to buy stock in Silicon Valley Bank’s parent company. Silicon Valley Bank’s swift collapse on Friday stunned the banking sector. Bloomberg via Getty Images“If he specifically says either buy, buy, buy a stock, then we’re gonna go short that stock at the next practical moment,” Matthew Tuttle, the CEO of Tuttle Capital Management, which launched the Inverse Cramer Tracker ETF, told Bloomberg News.