Jim Cramer Curse Strikes Again, Western Alliance Shares Down 40%

Western Alliance falls victim to the Cramer Curse, Shares down by 40%

Western Alliance shares fell 40% after the news broke out that the bank is exploring a sale.

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What is worth noting is that Jim Cramer himself voiced solidarity with the financial institution not so long ago.

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“Western Alliance is back and it's stronger than ever!! that's the big takeaway so far!”, Jim Cramer tweeted on April 19, 2023.

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This sudden drop in Western Alliance’s shares is believed to be caused by what’s known as the ‘Cramer Curse’.

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The idea behind the Cramer Curse is simple- if CNBC's Jim Cramer, says something is going to happen - the opposite will take place.

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And that is exactly what has happened in the case of the Western Alliance where it lost share value soon after Cramer supported it.

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Companies like Netflix and FTX also fell for the Cramer Curse and lost market value when Jim came out with their resounding endorsements.

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