Stock Market Today With Jim Cramer: Buy the Dip in Twitter

Jim Cramer discusses the latest stock market news including Jane Fraser's leadership at Citigroup, Twitter's stock, and markets on Monday.
Author:
Publish date:

Stocks rose sharply Monday with the S&P 500 on track for its best session in nine months.

TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Jane Fraser's leadership at Citigroup, buying the dip in Twitter and markets on Monday.

Beyond Meat: Buy Or Sell?

Last week, Beyond Meat  (BYND) - Get Report announced development deals with McDonald's  (MCD) - Get Report and Yum Brands  (YUM) - Get Report, however, analysts were cautiously optimistic about the plant-based food maker as it missed fourth-quarter estimates.

Beyond Meat said it had reached a multi-year deal with McDonald's to be the preferred supplier for the McPlant, a plant-based burger currently being tested in some McDonald's markets.

The company also reached a strategic deal with Yum Brands, the parent of Kentucky Fried Chicken, Pizza Hut and Taco Bell.

Cramer said while Beyond Meat has a considerable foodservice business, but it will pull away."There is not a lot of food service business being done right now. Their numbers are down very badly. But when the foodservice business comes back in June, they are going to get great orders. It's non-GMO, younger people will prefer this to Impossible Foods, McDonald's has endorsed it, so it's a winner."

Twitter: Buy Or Sell?

Shares of Twitter  (TWTR) - Get Report were down Monday after the social-media giant unveiled a $1.25 billion convertible bond offering in a private placement.

Cramer urged investors to buy the dip in Twitter stock. "They are doing a convertible bond. That is causing pressure because people might be selling the common stock and getting a bond."

Markets on Monday

The Dow Jones Industrial Average jumped 705 points, or 2.2%, to 31,636, the S&P 500 rose 2.55% and the Nasdaq was up 2.8%.

Boeing led the Dow higher, rising 5% after United Airlines  (UAL) - Get Report placed an order for new 737 MAX jets.

Chipmaker Nvidia was down 0.1% by 60 points.

Cramer said he will be watching cyclical stocks like Boeing  (BA) - Get Report and high-growth companies that are getting hit like Nvidia  (NVDA) - Get Report, which is an opportunity to buy. 

Boeing and Nvidia 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.