All the major indexes pulled back on again Wednesday, and again the Nasdaq led the charge lower. Many investors were watching President Biden’s summit with President Putin early in the day, but what really moved the markets was the outlook released from the Federal Reserve. 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 been a fount not just for breaking news surrounding everyone’s favorite stocks and companies, but he 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, Mad Money, that many people watch 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 was quick to jump in on Fed policy after Fed Chair Jerome Powell’s comments sent markets lower on Wednesday. Overall, Cramer tipped his hat to Powell and the Fed for acknowledging the obvious that, yes, there is inflation and that is ultimately bad, and as such the Fed will have to take measures to deal with it. Now might not be the time to deal with it, letting supply chains recover and more people to return to work seems to be at the forefront, but inflation remains a high priority.
Bank of America Corp. (NYSE: BAC): Cramer had this to say about one of America’s biggest banks: “We’re Saying that over the next four or five days, there could be some weakness in the market, but I agree that Bank of America is an excellent institution and if you think that rates ultimately will have to go up—which the Fed certainly said—Bank of America is going to go higher, so I am in favor of holdings and then buying a couple days from now.”
CRISPR Therapeutics A.G. (NASDAQ: CRSP) has been a solid pick for many investors but Jimmy Chill thinks there could be a problem with it. He believes much of the appeal is in the name. However, Cramer prefers other stocks like Vertex Pharmaceuticals Inc. (NASDAQ: VRTX), which just got hammered, or Regeneron Pharmaceuticals Inc. (NASDAQ: REGN), where the news is very good.
Advanced Micro Devices Inc. (NASDAQ: AMD): Back in May of last year this was about a $52 stock, but now it is closer to $80 a share. Cramer thinks Lisa Su is doing an amazing job, but ultimately he thinks that when the Xilinx deal closes this stock just soars.
AT&T Inc. (NYSE: T): Cramer was short and sweet here. Simply put, “Not recommended.”
Last but not least, Cramer had some choice words on Twitter for the WallStreetBets (WSB) investors and “memesters.” Ultimately he recommended sticking with GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings Inc. (NYSE: AMC), saying, “The memesters wanted you in Corsair. Even though I like the company I begged you not to fall for their nonsense. The shorts won, you lost. WSB gaffed you huge on that one. Stick to $GME and $AMC for heaven’s sake and stay out of my zone.”