NEW YORK (TheStreet) -- TheStreet's Jim Cramer commented on the jump in Target (TGT - Get Report), Lowe's (LOW) and Tesla (TSLA - Get Report) stock. "Ya gotta love a market" being in "forgiveness mode" was his assessment.
The stock jumps are a bit counterintuitive. Cramer explained the market attitude to companies that have done poorly: "You did badly? We expect you to do badly -- let's buy your stock."
Target and Lowe's have run into business difficulties, but investors aren't penalizing them just now. After Home Depot (HD) reported, Lowe's rose, too. Even with merely OK numbers, Lowe's drew investors in, Cramer said. Home Depot is a holding in his charitable porfolio, Action Alerts PLUS.
Cramer remarked that Target is "rather amazing." After its data breach, investors might have shied away. Instead they accepted Target's word that things are improving and didn't flinch at its 2.5% drop in comparable-store sales.Tesla has been doing well, but has climbed even more. Why? Cramer sees a good Consumer Reports piece and Morgan Stanley's price bump as helping the stock. Cramer characterized the market as in "bountiful mode -- if you've got high growth." --Written by Nora Morrison in Cleveland At the time of publication, the author held no positions in any of the stocks mentioned. Follow @NoTicker This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
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