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CNBC Legend Jim Cramer ‘Shokes Up’ On Air | Live news

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Legendary business anchor Jim Cramer, who has been on CNBC as host of “Mad Money” since 2005, “choked up” Thursday during a broadcast of “Squawk on the Street,” apologizing to the viewers, according to The Washington Times.

Cramer, 67, regularly offers stock advice for viewers to invest in or avoid, and on Thursday, Cramer apologized for advising viewers to invest in Meta, the parent company of social media giant Facebook.

“Let me say this. I made a mistake here,” Cramer said on air. “I was wrong. I trusted this management team…I trusted them, not myself. For that, I’m sorry. I’ve been in this business for 40 years, and I did a bad job. I’m not proud, Cramer said on air.

The Washington Times notes that Cramer appeared “visibly hurt” on the air and was “choking” with his “voice halting and shaking as he spoke.”

Cramer advised CNBC viewers in June to buy the stock, saying Meta CEO Mark Zuckerberg was “simply unstoppable.” He also suggested that the metaverse, which Meta has been turning towards for the past year, would be a “fantastic place to go”.

Meta shares fell nearly 25 percent Thursday after the company reported a 4 percent decline in the latest quarter, compared with the same period a year ago.

At the close of trading on Thursday, Meta was trading at less than $98 per share, the lowest the company has traded at since 2016.

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