You might think “coolness-per-share” is a frivolous way of valuing stocks, but today’s marketplace is exactly what investors are looking for, Jim Cramer told his Mad Money viewers on Monday.
Cramer said Monday’s action was all about making money out of the old and buying up everything new, especially when it’s cool.
As a result, investors sold the oil field as fossil fuel and climate change concerns ravage the sector. Shareholders also sold Boeing (BA) – Get the report after delays with the 777x, it became the latest in a host of problems plaguing aircraft manufacturers.
Investors also worried about the latest variants of COVID and whether the current vaccines would remain effective. Travel has been particularly hard hit with Marriott (TO DAMAGE) – Get the report lose 3% until the end.
What are investors buying cool? Look no further than Intellia gene therapy (NOW) – Get the report shoots 50% on positive news from clinical trials. That sent shares in Edits Medical (TO EDIT) – Get the report also higher. Investors are also rediscovering Tesla (TSLA) – Get the report, together with PayPal (PYPL) – Get the report and Nvidia (NVDA) – Get the report, which is up 5% on news of the acquisition of ARM Holdings (ARMH) could actually happen.
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At the time of publication, Cramer’s Action Alerts PLUS held a position with PYPL, NVDA.