“If people had known that [Peter] Thiel would be unloading stock, obviously they wouldn’t be buying stock,” says Jim Cramer. “Where’s the outrage?”
About 1:10 in Cramer starts to go crazy, didnt he call $50 target on the stock?
Video and computer transcript below:
i need your view. i’m hoping for insiders to buy. come on. there isn’t anything about facebook that hasn’t been done in the right fashion. they get away with everything. nothing happens here they say, wait a second, guys! where are the brokers sayingthis isn’t right. is thiel dumping here? you need to see it buy before you get rid of the stock. what about directors? i’m a director of street.com. i do it way in advance. this is not the way i play it. this made me furious. i like theil very much. sure, he was always going to sell. like he expected it. like i came to you yesterday, thiel is selling 20 mill. where is the outrage about this? how much money do they have to lose you here? do they have a voice in this conversation? should they be able –everyone has a voice in this. everyone comes down on you when you do insider selling. don’t you think i know it. everybody has an excuse for behavior i have seen in the last year. it’s outrageous. i can wonder why the individual investor didn’t run.if i didn’t work 20 hours a day, i would run. if you were mark zuckerberg, would you fire the ceo who immigration it? who is mark zuckrg? where was he? he worked on the price. where is this company? where are they? i don’t know. what would make you feel better? how about insider buying? i love the fact everyone expects insiders to sell. when i was running street.com, if i saw insiders sell, if i did, i would say we ought tofire this guy. i don’t want zuckerberg fired because he’s the founder of the company. of course, he sold 20 mil. that’s fine.this is unbelievable. would you get thiel off the board? he still has 5 million shares. i’m sure everybody checked off on it. i don’t know. i guess they can do whatever the heck they want.nasdaq can do whatever they want. everybody is still around,morgan stanley, everybody is around. what do you have to do to get fired in this country. maybe that’s what you need. unless they’re on line one, it doesn’t matter. a brother-in-law? is there anybody out there says, hey, listen, maybe that’s wrong. cramer says someone should be indicted. i picked up the papers andthiel, maybe this is a mistake. maybe he’s buying stock.facebook, it’s whatever they want, that’s fine. they can do whatever they want because they have 900 million people. it’s fabulous. you will be the voice of reason today. i will do them a big favor and click on an ad. it will click up 50%. i might buy a coin on zynga just to you know what, not all is lost. anything goes! i have a feeling we will hear a lot more coming up in just a few minutes. the conscience of the small investor, jim cramer, we will see you on squawk on the street in a few moments.