Dow futures climb as stocks resume post-election rally as hand recounts in Arizona, and formal congratulations from China, cement President-Elect Joe Biden's path to the White House.
In the last episode of Mad Money, Jim Cramer said that sometimes, the consensus on Wall Street just gets it wrong. Right now, many money managers think there are too many bears in the market. In reality, we might have too many bulls.
TheStreet's Katherine Ross and Cramer are talking about his thoughts about Roku, buying Walmart, and Singles Day's retail winners.
Walmart Stock: Buy or Sell?
Retail giant Walmart (WMT) - Get Report on Thursday added pet insurance to its existing health insurance plans as adoption rates soar in the country due to the coronavirus.
The Bentonville, Ark., company will offer Walmart Pet Insurance in collaboration with Petplan, a third-party pet insurance provider.
Their plan provides coverage for veterinary fees due to accident, injury or illness, including chronic and hereditary conditions.
Cramer said investors should buy Walmart. He thinks that “the next wave of illness that we're experiencing right now is going to wipe out more of Walmart’s competitors than the ones of Costco's.”
Roku Stock: Buy or Sell?
Last week, Shares of Roku (ROKU) - Get Report rose sharply in trading after the streaming media platform company announced a surprise third-quarter profit and revenue beat after the close on Thursday.
Roku shares were up 9.7% to $246.33 on Friday morning. The company's CFO talked to TheStreet about Roku's strong hardware and video ad sales growth that helped drive the strong performance in the quarter.
Cramer thinks that Roku “is fabulous and unanimous,” and is considered one of the biggest names in the cord-cutting space.
Biggest Singles Day Winners: Estee Lauder and Nike
Alibaba Group Holdings' (BABA) - Get Report Singles Day shopping event has topped $75 billion in total sales, a huge increase from last year's record high that suggests robust consumer health in the world's second-largest economy.
According to data published by Alibaba just after midnight in Beijing (11 am Eastern time), gross merchandise value for the group's 12th annual Global Shopping Festival has reached 498.2 billion Chinese yuan, or just over $75 billion, a staggering total that dwarfs the record $10.4 billion spent during Amazon Inc's. (AMZN) - Get Report two-day Prime Day event last month.
Cramer said that Estee Lauder (EL) - Get Report by far is the biggest winner in Alibaba’s Singles Day and “this may have been their greatest Singles Day ever.” He added that analysts should have told investors on Thursday to buy Estee Lauder stock.
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