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Oil market is ‘emblematic’ of everything wrong with the economy, Jim Cramer says (https://www.cnbc.com/2020/04/20/cramer-oil-market-is-emblematic-of-everything-wrong-with-the-economy.html)
- The oil market is “emblematic” of what’s wrong with the economy, CNBC’s Jim Cramer said after crude prices sank in negative territory.
- “So many things are broken, so many prices have gone haywire in every different industry that the averages themselves are no longer capable of relaying what publicly traded companies are actually worth,” the “Mad Money” host said.
- “The main takeaway from today is that our economy remains closed and when an economy is closed … you don’t need a lot of fossil fuels,” he said.
Ticker: AMZ, BABA, VRTX, SHOP
Executive Interview: Coronavirus harms the oil market more than OPEC friction, oil commodities expert says (https://www.cnbc.com/2020/04/20/rbn-energy-coronavirus-harms-the-oil-market-more-than-opec-friction.html)
RBN Energy CEO Rusty Braziel explained why negative oil futures prices, a first in history, represent a “paper market problem” as travel demand reaches near halt.
Executive Interview: New IBM CEO talks Q1 earnings, hybrid cloud and weathering coronavirus pandemic (https://www.cnbc.com/video/2020/04/20/new-ibm-ceo-talks-q1-earnings-hybrid-cloud-and-weathering-coronavirus.html)
Arvind Krishna, who became chief executive of IBM in early April, told CNBC’s Jim Cramer he has “emense confidence” the company will emerge “even stronger” post-pandemic.
Ticker: IBM
Executive Interview: Robinhood co-CEO discusses investing habits, platform operability during coronavirus pandemic (https://www.cnbc.com/video/2020/04/20/robinhood-co-ceo-on-investing-habits-platform-operability-amid-crisis.html)
Despite recent app outages, Robinhood co-CEO Vlad Tenev said the stock investing app continues to take 50% of market share for new brokerage sign ups.
Cramer’s Lightning Round: Jim Cramer: Chipotle is a buy at this price (https://www.cnbc.com/2020/04/20/jim-cramer-chipotle-is-a-buy-at-this-price.html)
- Chipotle: “I think Chipotle’s good if you can get it under $800. Remember: this is a stock that is kind of impervious. Why? Because it’s got a great balance sheet and that’s what we’re looking at is balance sheets.”
- Revolve Group: “The e-commerce companies that this market likes are two. They like Amazon and it likes Shopify, and that’s really it.”
- Anheuser Busch Inbev: “No. I mean look, it’s got a good yield. It’s 4%. … I am a giant believer that you need growth when you buy stocks, which is why I keep coming back to Constellation Brands, down $6.”
- Diamond Eagle: “That’s a blank-check company. I’m not going to give anybody a blank check. … I like to see what they’re going to own.”
- Winnebago Industries: “I like Winnebago. I think Winnebago is going to be the preferred way that people are going to be vacationing when you’re not sure about a hotel. … I think it’s a good call.”
- Clorox: “I think you should hold on to it.”
Ticker: CMG, RVLV, ABI, DEAC, WGO, CLX
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