The Robinhood Revolution
"That app is about studying and owning a piece of America," Cramer said of Robinhood ahead of its debut Thursday.
Robinhood shares changed hands at $38 each on their Nasdaq debut Thursday, and immediately slumped as much as 10% shortly after, indicating a difficult opening session for the popular, yet controversial, online trading app.
Robinhood sold 55 million shares at the lower end of its $38 to $42 target late Wednesday, raising $2.1 billion and valuing the group -- and its 21.3 million monthly active users -- at around $31.8 billion.
Here's How to Trade PayPal
PayPal shares were taking a bath Thursday after reporting second-quarter revenue that fell below analyst estimates.
But Jim Cramer is still a believer in the company and has a plan for investors to get back in on the stock.
"Take a look at the pattern. They sell today, they sell tomorrow, then you've got to buy. If you haven't started a position in PayPal, wait until 3:30 PM to buy some," Cramer advised Thursday.
PayPal shares dropped nearly 6% Thursday afternoon after the online payments company reported non-GAAP earnings of $1.15 a share on revenue of $6.24 billion for the latest quarter. PayPal had been expected to report earnings of $1.12 a share, on sales of $6.3 billion, based on a FactSet survey of 38 analysts.
In the same period a year ago, the company posted earnings of $1.07 a share on sales of $5.3 billion.