PANews reported on November 5 that according to Cointelegraph, TV celebrity Jim Cramer, when reviewing the stock market performance, pointed out that investors' confidence in US Vice President Harris' victory in the 2024 presidential election is increasing. However, due to the existence of the "Cramer reverse" effect, that is, Cramer's predictions are often opposite to the results, some investors regard his prediction of Harris as a signal of Trump's victory. Cramer's prediction was made the day before the US election day, when cryptocurrency also became a political focus for the first time.
Previously, an ETF designed to profit from shorting Cramer's stock recommendations was created as a result of Cramer's counter-trend, but the ETF was closed and liquidated just 10 months after its establishment due to poor performance, attracting only $2.4 million in investment and recording a negative 15% return since its launch, further proving that Cramer's predictions were not always accurate.
