Morning Bell With Jim Cramer: Buy Wynn

Jim Cramer talks stock market news, including Wynn, tech stocks and cruise lines.
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Stock futures were mixed Tuesday amid concerns about the possible impact of rising prices on the Federal Reserve's support for a U.S. economy recovering from the COVID-19 pandemic.

TheStreet founder Jim Cramer returned to the floor of the New York Stock Exchange on Monday. He said the Nasdaq was key to the markets.

"We need all sorts of tech stocks to keep up with what I regard as a runaway industrial market," said Cramer.

Wynn Stock: Buy or Sell?

Cramer noted that Las Vegas casino operator Wynn  (WYNN) - Get Report has been hit hard recently as border requirements have tightened between Macau and Guangdong Province due to an increase in COVID-19 restrictions. 

Last month, the company said first-quarter revenue at Wynn Macau declined 21.7% from a year ago. 

"Wynn is an incredible company," Cramer said. "It's always been the best place. When I go out (to Las Vegas) in October, where will I stay? I'll stay at Wynn."

Cramer said he was not concerned about the Macau restrictions because now that the stock is down, "that's when you buy."

"There's nothing else bad that's coming," he said.

Norwegian, Carnival, Royal Caribbean: Buy or Sell?

Cramer also discussed the cruise ship companies Norwegian Cruise Line Holdings  (NCLH) - Get Report, Royal Caribbean  (RCL) - Get Report and Carnival  (CCL) - Get Report.

Cramer noted that all of the cruise ship stocks were all meme stocks at one time.

"They were stocks that got moved to where they were able to finance so they didn't go bankrupt," he said. "How did three cruise line companies not go bankrupt when they were shut down? The answer. is the meme people. Maybe we should think the throng isn't so crazy after all."

Wynn Resorts is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells WYNN? Learn more now.