Cramer's Mad Money Recap 6/9: Block, Affirm Holdings

Cramer's Mad Money Recap 6/9: Block, Affirm Holdings ...

After a massive selloff on Wall Street, Jim Cramer admitted to his Mad Money viewers on Thursday. They simply cannot take the pain, and they''re going for the exits in droves.

Cramer said he''s in a "great readjustment" where investors are figuring out what they''re willing to pay for companies that aren''t making money today, but might make a lot of money in the future. They''re also weighing what to pay for businesses that used to be quite wealthy, but now make less with rising interest rates and a weaker economy.

"The fun we''ve had is passed. In this market, you need a helmet," said Cramer.

Block Inc. Class A Report: This payments company, previously known as Square, rose from $200 to $280 a share last year, but has dropped by 6.7 percent Thursday. Why? Affirm (AFRM): Affirm Holdings Inc. Report: which has now dropped from $168 to $21 a share. Both stocks were expensive, and they do not offer dividend protection to investors.

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Cramer said there are still hundreds of stocks that he likes, but there are still tens of thousands that just do not work right now.

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