Morning Bell With Jim Cramer: WallStreetBets Changes Trading

Jim Cramer shares stock-market news including the larger impact of the WallStreetBets trading mania, AstraZeneca's vaccine halt in South Africa and market regulation.
Author:
Publish date:

Stocks are down Tuesday in premarket trading after the S&P 500's sixth straight day of gains. Bitcoin is surging again on Tuesday, rallying past $48,000 before falling.

In the last episode of Mad Money, Jim Cramer asked if it is possible to have too many ways to make money? Cramer says we're not there yet but investors should always look out for solid opportunities and risks.

TheStreet's Katherine Ross and Cramer are talking about the larger impact of the WallStreetBets trading mania, suspension of AstraZeneca's vaccine in South Africa and market regulation.

WallStreetBets and Trading Stocks

Reddit doubled its valuation to $6 billion in a new round of funding after the social media website gained attention for a retail trading frenzy that can be traced to its message board called WallStreetBets.

Reddit raised $250 million in a late-stage funding round led by venture-capital firm Vy Capital, The Wall Street Journal reported. 

Cramer said he supported Robinhood, Reddit and WallStreetBets because it levels the playing field for individual investors. "Provided that there is as much trust as possible in what you own. I support Reddit because they are the disseminator. I support WallStreetBets in the sense that it gives enthusiasts more ideas as long as it's not a pump and dump. I am in favor of the individual investor."

AstraZeneca: Buy Or Sell?

South Africa on Sunday suspended the AstraZeneca-Oxford coronavirus vaccine after evidence emerged that the vaccine did not protect clinical trial volunteers from mild or moderate illness caused by the more contagious virus variant that was first seen there.

Cramer said the South Africa strain of coronavirus could be a concern for investors because things spread much faster and eventually end up as a foot race between the vaccine and getting infected.

Regulation

Cramer said the government needs to find a way to tell people/individuals what stocks they own and what they're getting into. "The technology of closing or buying a stock is like a checking account but it could be done instantly."

 None of these are key holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now