Jim Cramer on GameStop, Infrastructure, Ford, WeWork, Markets
It's finally Friday.
Jim Cramer told TheStreet Live that stocks are taking a cue from the bond market as all major indices pointed higher in intraday trading Friday.
"You’ve got this situation where the market wants to see interest rates go higher," Cramer said. "It’s a virtuous cycle."
Recap Friday's episode of TheStreet Live with Jim Cramer and Katherine Ross in the video above and be sure to catch TheStreet Live every weekday at 10:30 a.m. ET:
Let's Recap GameStop
GameStop (GME) - Get Report took off in Thursday's trading session, after facing pressure during Wednesday's session.
TheStreet's Martin Baccardax broke down the news that had impacted shares following the earnings report earlier this week.
"The group did, however, see a 175% surge in e-commerce sales and hired former Amazon executive Jenna Owens drive its online shift, but provided scant details as to how and when it might happen; company executives not only decline to provide near-term profit forecasts, but they also refused to take questions from analysts in what was a packed post-earnings conference call," Baccardax wrote.
He continued, "The major after-hours move for the shares [earlier this week], however, came from a 10-K filing with the Securities and Exchange Commission shortly after its fourth quarter earnings, in which the company said that while it wasn't aware of any "material changes in our financial condition or results of operations" that would explain the stock's 800% gain over the past two months, it has been "evaluating whether to .. potentially sell shares of our Class A Common Stock under the increased ATM Program during the course of fiscal 2021, primarily to fund the acceleration of our future transformation initiatives."
Jim's Advice When Facing the Investing Stages of Grief
Jim Cramer took to his Real Money column to discuss what investors should do when it comes to coping with the investing stages of grief.
"First, do clear your head. If you were to read Confessions of a Street Addict, there is a moment where I was deeply depressed because I had bought the wrong kind of stocks for the market and was about to be down double digits. What did I do? I stopped waiting for stocks to come back and literally sold everything. I decided that if I wanted any of those stocks I would buy them back. Of course I didn't. I knew they were wrong. You know what's wrong, too. Accept it," Cramer wrote.
"Second, do have some cash and stop borrowing money or doing nothing but buying options on stocks. That game's over with. You need to accept the fact that risky stocks do go down, something that didn't happen until about a month ago. If you aren't more conservative after what's happened, you can't be saved," he continued.
Is Infrastructure a Play?
"There doesn't need to be an infrastructure bill in Congress to make the infrastructure stocks a buy, Cramer told viewers, as he highlighted two of his favorites, Martin Marietta Materials and Nucor," wrote TheStreet's Scott Rutt in his Mad Money recap. "Whether Congress passes a big infrastructure bill, a small bill, or no bill at all, our economy is on the mend and that means construction activity is picking up across the country. With construction comes the need for materials from Martin Marietta."
"I know what you're thinking. Rocks are boring. But that's kind of the point. Martin Marietta is a solid performer that's only going to get better. Cramer said he likes that the company is focused on the "mega regions" of our country and on the biggest projects at our biggest companies. Add to that the fact that inflation is actually good for Martin Marietta because they can raise prices, and you can see why shares rose 3.4% Thursday," he continued.
Hear what Cramer is only telling members of his Action Alerts PLUS investing club in Friday's Daily Rundown.
