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(Corrects article from 7:54 p.m. EST Thursday to say NeuVax is now in Phase III testing.)
NEW YORK (TheStreet) -- No sector matters to the markets more than retail, Jim Cramer said on "Mad Money" Thursday. Everyone can relate to retail, and that means when retails stumbles the markets take notice.
That was the case today when Best Buy (BBY) delivered disappointing same-store sales and the markets reacted by sending shares down by 29%. Best Buy suffered from being over-loved, said Cramer, as analyst after analyst upgraded the stock on its turnaround plans, leaving no one today to keep buying.The same happened to GameStop (GME), Cramer noted. That stock rocketed higher last year on analyst after analyst commenting on the same facts over and over. When GameStop stumbled, the stock was crushed. Ever since late last year the consensus has been that consumers are strong. They were not buying apparel but they were buying hard goods from Home Deopt (HD) and Williams-Sonona (WSM). But with today's news, that thesis is now in question. Are consumers cutting back? Are they buying online instead? Or are they just snowed in by bad weather? Those questions will be answered when Amazon.com (AMZN) reports, said Cramer. If Amazon's sales are strong, showing a continued secular shift towards online shopping, then shares of Amazon will be grossly unvalued.