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Summary of CNBC program “Mad Money w/ Jim Cramer” which was on air on Wednesday, August 26, 2020. Links to CNBC sites which contain video clips and transcripts are also listed.
Time to ring the register on part of your position, Jim Cramer says (https://www.cnbc.com/2020/08/26/time-to-ring-the-register-on-part-of-your-position-jim-cramer-says.html)
- “It is time to ring the register on part of your position so that you’re playing with, maybe, the house’s money,” CNBC’s Jim Cramer said as the market set a new high.
- “Maybe take out what you put in, let the rest run,” the “Mad Money” host said.
- “We’ve got the smoking-hottest stock market I have ever seen, and it rewards companies for success so generously that it’s [nothing] like any other market I’ve ever seen,” he said.
Executive Interview: Shopify COO says Amazon-backed California regulation would make it ‘more difficult’ for entrepreneurs (https://www.cnbc.com/2020/08/26/shopify-coo-speaks-against-amazon-backed-california-product-regulation.html)
- “We unequivocally believe that for the future of commerce to survive and thrive it has to be in the hands of the many, not the few,” Shopify COO Harley Finkelstein, speaking out against a new California bill, told CNBC.
- The company believes “the world is better with many entrepreneurs and many independent entrepreneurs, and anything that makes it more difficult we don’t is a great thing,” he said in a “Mad Money” interview.
- Amazon is backing a California measure that would subject online marketplaces to the same liability expectations as physical store counterparts.
Ticker: SHOP
Executive Interview: 3M CEO: Growth in July was led by health care and consumers (https://www.cnbc.com/video/2020/08/26/3m-ceo-growth-in-july-was-led-by-health-care-and-consumers.html)
As demand for PPE and home improvement held up, 3M CEO Jim Mike Roman reported seeing elective procedures making a comeback in July.
Ticker: MMM
Executive Interview: TurboTax-parent Intuit posts 83% quarterly revenue growth as more people file taxes from home (https://www.cnbc.com/2020/08/26/intuit-posts-83percent-quarterly-revenue-growth-as-more-people-use-turbotax.html)
- “This was a, you know, a very unique tax season because our consumers were just in pain across the globe, but particularly in the U.S., and it was an incredible season,” Intuit CEO Sasan Goodarzi told CNBC’s Jim Cramer.
- “We had the fastest category growth that we’ve had in 15 years, and our customer growth was the fastest that it was in four years,” he said in a “Mad Money” interview.
- “It was primarily because we gave folks the opportunity to be able to do their taxes in the comfort of their home with an expert in their pocket” via TurboTax, he said.
Ticker: INTU
Cramer’s lightning round: I don’t like any pipeline company (https://www.cnbc.com/2020/08/26/cramers-lightning-round-i-dont-like-any-pipeline-company.html)
- Royal Dutch: “I don’t want you touching Royal Dutch … because it is an oil company, and you can do better than that.”
- Landcadia: “I like [CEO] Tillman [Fertitta]. I’m not going to go against that guy, he’s made too much money for people.”
- Inseego: “I like Inseego. … It’s another 5G play, there’s a lot of them around, but it’s good.”
- GrowGeneration: “This stock has been manipulated. … It is in the hands of the shorts right now … I think it’s ridiculous down here, cheap … I happen to believe in the company, the bears don’t. You’ve got to make up your own mind. Read the Stifel piece.”
- Oneok: “I don’t like any pipeline company.”
Ticker: RDS-A, LCA, INSG, GWRG, OKE
Other Topic (no Video Clip): WATCH stocks — Walmart, Amazon, Target, Costco, Home Depot.
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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