CNBC host Jim Cramer was visibly stunned on Monday after co-host Carl Quintanilla revealed that President Donald Trump had been actively trading Intel stock during the first quarter of the year. The moment occurred during a segment on "Squawk On The Street," where Cramer, Quintanilla, and David Faber were discussing Intel's recent performance.
Awkward Silence on Live TV
As Cramer began suggesting that the U.S. government could sell its 10% stake in Intel to benefit the American people, Quintanilla interjected with a startling fact: "According to the filings, the president's been trading some Intel in the quarter, yeah." Cramer, known for his rapid-fire commentary, was left utterly speechless. He stammered for nearly 10 seconds, unable to form a coherent response. Faber and Quintanilla teased him, with Faber asking, "Got nothing to say about that?" Eventually, Faber rescued the moment by telling the audience, "All right, don't worry, we're not having technical difficulties here everybody, but we gotta go."
Social Media Reactions
The incident quickly went viral on social media, with many viewers interpreting Cramer's reaction as shock at what appeared to be blatant insider trading by the president. Matt Stoller, a prominent political commentator, tweeted: "OMFG the CNBC anchors were puffing up the value of chipmaker Intel, they brought up Trump doing personal trades in the stock, and Jim Cramer stuttered for 15 seconds straight and then was quiet. Was Cramer shocked by the corruption or mad Trump was picking better stocks?" Others, including Illinois Governor JB Pritzker, noted that Cramer's stunned silence was a normal reaction to witnessing a president commit insider trading in plain sight.
Trump's Trading Activity
It was recently revealed that Trump has purchased stock in companies he later promoted or ahead of moves that would benefit those companies. Last week, he disclosed making at least $220 million in transactions related to major U.S. companies, according to the U.S. Office of Government Ethics. Critics argue that this pattern amounts to insider trading, as Trump's policy decisions can directly impact the value of his stock holdings. The Intel trade is just one example; Trump and his family have reportedly been trading tech, energy, and other stocks, raising ethical concerns.
No Comment from Cramer
HuffPost reached out to Cramer for comment on what caused his sudden stammering, but no immediate response was received. The incident has fueled ongoing debates about the ethics of a president engaging in active stock trading while in office, with many calling for stricter regulations on presidential financial activities.
