Jim Cramer says he ‘shuddered’ over Chinese media’s criticism of gaming

Jim Cramer says he ‘shuddered’ over Chinese media’s criticism of gaming

i know you were talking baba with the guys on squawk better than expected earnings but revenues do miss uh up 34 a little shy they they bounced the buy back a bit to 15 billion but what are we thinking here in light of the regulatory concerns i mean we and the stock did trade up about a buck and a half when they talked about the the uh buyback but i would tell you carl that the assault on companies that of course we also have in our pension plans continues and when i heard that term the spiritual opium against the gaming i shuddered because everybody kind of felt that after the uh post-school tutorials where they said listen we’ve got a couple class divided now they are what i always understood that they’re about that there’s next is the dumbing down of their own people and when you play with these 10 cent games that is not the same as going to a being a seven year graduate student in a place in new haven yeah and there it is it turns out spiritual opium’s grown into a multi-billion dollar industry no industry no sport can be allowed to develop in a way that will destroy a generation now those software is that take two yeah it was softened a bit later but you know and baba’s right has has gaming as well now in terms of trying to assess the quarter and how much of the stock being down if it is down this morning is a result of these latest moves in china unclear may use you know for mobile went up 14 million on a 939 million or roughly base so not a you know a net increase okay 14 million but percentage-wise obviously nothing like once what they once saw right uh jim at baba but i don’t i’m in baba for a buy-back for episodes i know but your point is an important one on these investors who are still hanging on in many of these chinese company stocks that trade here or in that the the education in particular you know they all it’s going to end it’s going to end and yeah you know where it ended with all of them becoming non-profits can you imagine we wake up and our companies are non-profits so you know you’re you’re very i think right to point to the the the risk here there’s still risk that stands out here as as the as the chinese um authorities continue to take action we’re not sure where it actually ends every night we get the uh note from kathy woods from arc uh let’s just say that the chinese are no longer woodstocks right those are not woodstocks she still sells a little bit every day yeah just turned tail on a lot of those wow just thematically by the way it doesn’t help that take two had some release push outs uh that did result in them guiding below for q2 revs very rough because this quarter was extraordinarily good but they had to push back a couple of big releases now they also have nba 2k which is a gigantic hit in china now is that is that spiritual opium right i’d be worried you’d be worried about that take two could be spiritual look i i think if you’re a seller in china nike didn’t do that well apple obviously means a great deal but they’ve already passed the test starbucks did incredibly well nike a lot of people were short because people felt that someone would ask them about the uyghurs and the concentration camps yeah which by the way do you think they the chinese allow that moment to just try to press that button
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Jim Cramer says he \'shuddered\' over Chinese media\'s criticism of gaming

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