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Below is a summary of CNBC program “Mad Money w/ Jim Cramer” which was on air on Tuesday, August 4, 2020. Links to CNBC sites which contain video clips and transcripts are also listed.
Jim Cramer: ‘I can’t take how stupidly bullish this market can be’ (https://www.cnbc.com/2020/08/04/jim-cramer-i-cant-take-how-stupidly-bullish-this-market-can-be.html)
- CNBC’s Jim Cramer railed against what he saw was “clueless buying” on the market Tuesday.
- The “Mad Money” host used BP and Sorrento Therapeutics, both of whose stocks traded higher, as case studies.
- “Never underestimate the power of enthusiastic buyers who do not know what they’re doing,” he said.
Executive Interview：B&G Foods CEO expects pantry demand to hold up post-pandemic (https://www.cnbc.com/2020/08/04/bg-foods-ceo-expects-pantry-demand-to-hold-up-post-pandemic.html)
- “I think post-Covid, people will be working more at home, which means people will be eating more breakfast at home,” B&G Foods CEO Ken Romanzi told CNBC Tuesday.
- “We’re in the pantry, we’re in the freezer and we’re ready to continue to meet consumers’ needs as they cook and eat more at home,” he said in a “Mad Money” interview.
- In a quarterly conference call last week, Romanzi told analysts that “new households are like the fountain of youth for a brand marketer.”
Ticker: BGS
The electric vehicle bubble, minus Tesla, has ‘started to burst,’ Jim Cramer says (https://www.cnbc.com/2020/08/04/cramer-the-electric-vehicle-bubble-minus-tesla-has-started-to-burst.html)
- CNBC’s Jim Cramer warned investors against over-speculation in the electric vehicle market.
- “The bull market in Tesla is real and it’s spectacular. The bull market in the rest of the electric vehicle plays feels way less substantial, and once again I’m warning you to stay away, no matter how awesome it seems,” the “Mad Money” host said.
- “Especially now that Tesla’s pulling back from its highs, I think it’s time to stop overthinking this story and go with best of breed,” he said.
Stock & Ticker: Tesla (TSLA), Nikola (NKLA), Nio (NIO), Li Auto (LI), Tortoise Acquisition (SHLL), Spartan Energy Acquisition (SAPQ), DiamondPeak (DPHCU)
Cramer’s lightning round: I would sell Dropbox (https://www.cnbc.com/2020/08/04/cramer-lightning-round-i-would-sell-dropbox.html)
- Kellogg: “I like Kellogg. I think it’s OK. Not my favorite food stock. There are others that I like even more, but it’s not bad. It’s not as bad as it used to be.”
- Smartsheet: “No. If you’re going to do cloud-based workflow, you’re just going to need to do ServiceNow or … Salesforce.com.”
- Uber Technologies: “I think Uber’s OK. I mean, look: Uber has to get rid of anything that is not making money … and I think they have a capability of doing that, but if they don’t” it’s just not going to work.
- Dropbox: “That’s a tougher one … The stock is almost at its high, but I’m a seller, not a buyer.
Ticker: K, SMAR, NOW, CRM, UBER, DROP
Other Stocks Discussed (calls with Audience): Nike (NIKE), Ebay (EBAY), Ford (F), Plug Power (PLUG)
If you have any questions or comments on this topic, please start a new topic using its parent forum “Investments in the US”.
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