Cramer Says He’s ‘Not Against’ GameStop, AMC at Current Trading Levels

CNBC's Jim Cramer said GameStop and AMC Entertainment are presenting buying opportunities as the companies prepare to reinvent themselves.
"If you've ridden them up from much lower levels, take a little off the table," the "Mad Money" host said. "These stories could always get dinged."
"These companies now have the ability to reinvent themselves because higher stock prices have allowed them to raise capital," he said.

CNBC's Jim Cramer said Wednesday that shares of GameStop and AMC Entertainment are within buying range, but cautioned investors who got in on the stocks lower to protect profits from a big run.

"I'm not against [buying] GameStop or AMC at these levels. GameStop's currently below where I told you to ring the register in January," the "Mad Money" host said.

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GameStop stock moved 0.85% higher on Wednesday to $302.56, and AMC ended the session at $49.34, down 10.37% from Tuesday's close.

"If you've ridden them up from much lower levels, take a little off the table," Cramer said. "These stories could always get dinged."

Shares of the beleaguered companies have shot up as part of the Reddit-fueled retail trade. GameStop has skyrocketed more than 1,500% so far in 2021. AMC has rallied more than 2,200% through Wednesday.