The S&P 500, Dow Jones industrial average and Nasdaq were each crushed on Monday. It seems that investors still have not come to terms with rising COVID-19 cases and inflation. Even with earnings season underway, this pullback still has some investors shook. All this makes for a stock picker’s market, and who better to pick these stocks than CNBC’s Jim Cramer.
Cramer has been a force in the market for years, dishing out advice and analysis to savvy investors. He makes no bones about how he encounters the market with well-founded technical and fundamental analysis at a level to which many a trader and investor aspire.
It is no secret that Cramer has not just been a fount of breaking news surrounding everyone’s favorite stocks and companies, but he also actively engages and encourages more people to get their money to work for them via smart investing. With the recent surge in meme stocks and interest in cryptocurrencies, Cramer has shifted and grown with the times. He even has investment strategies on the cutting edge.
Cramer has maintained a popular show on CNBC for years now. Many people watch Mad Money to make sense of the daily market moves. He also runs the popular finance website TheStreet.com. Furthermore, you can see him make cameos on other shows over the course of the trading day on CNBC. When not on the air, you can find him on Twitter, dishing out even more knowledge.
24/7 Wall St. has compiled and distilled some of Cramer’s top picks and analysis here.
Cramer’s take on Monday’s sell-off is that there is too much speculation going on right now and that until these speculators get blown out the markets will not stabilize. Feeding into this speculation is the constant flow of IPOs and SPACs, of which Cramer cited there have been over 600 this year so far and that seems like too many.
Another highlight in the report was “meme-a-day” stocks that have created instability among small caps and even cryptocurrencies. While stocks might see a temporary boost for a day or so, they will eventually come crashing back to Earth.
Cramer concluded that these declines in equities will not stop until all the speculators are blown out. Unfortunately, there is still a lot of speculation out there.
Cramer started off the Lightning Round with Academy Sports & Outdoors Inc. (NASDAQ: ASO): “I still like it … I’m a buyer.”
On Sherwin-Williams Co. (NYSE: SHW): “Raw costs are now too high. I am concerned. I no longer think that you can buy this stock until we see the raw costs come down, and then I will feel better.”
Jimmy Chill was a little mixed on SoFi Technologies Inc. (NASDAQ: SOFI): “I think SoFi should be done going down soon. I mean, stocks stop at zero, I mean, this thing has just been a nightmare, and Anthony Noto is better than that. It’s at $15. I’m a buyer at the $14 level.”
On General Electric Co. (NYSE: GE): “I don’t care where a stock came from. I care where it’s going to. I think GE is OK. I don’t think it’s great, I don’t think it’s bad. It’s just OK.”
Cramer ended the round with Sysco Cop. (NYSE: SYY): “The good news is the guy who runs it is real strong. The bad news is that the restaurant business is going to take a little header here, so I’m going to say, ‘no,’ to that right now.”
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