Stocks in the Dow and S&P 500 are both down today as the six-day win streak is in jeopardy but the Nasdaq keeps moving forward with major companies leading the way including Amazon, Apple, and Nvidia.
Jim Cramer spoke about why the price target for Amazon set by RBC at $3300 is too low. Cramer would be buying shares of Amazon with the expectation it will keep going higher due to the sales they are receiving in the coronavirus pandemic.
TheStreet's Katherine Ross discussed today's breaking news in the stock market on StreetLightning with Cramer. Cramer discusses today's Vroom IPO, IBM ending its facial recognition technology, and what to do with Macy's stock.
Vroom Stock: Buy or Sell?
Vroom is off to a fast start on its first day of trading as a public company. The online car dealer is more than double its IPO price. The IPO market is getting back on track after the coronavirus pandemic and we are seeing stocks take off after they start trading. Both Nikola and ZoomInfo have also gotten off to dream scenario beginnings after their IPO.
How would Cramer play Vroom stock after its IPO? Listen here.
IBM Stock: Buy or Sell?
IBM pulled the plug on its facial recognition technology due to the concerns about how it is used to profile people along racial and ethnic lines. The technology has been used more frequently among law enforcement and IBM has asked Congress to discuss whether this technology should be used more widely.
Listen to why Cramer believes the move by IBM is the right one
Macy's Stock: Buy or Sell?
Macy's is down almost 50% in 2020 and while many stocks have recovered from the March lows brought on by the coronavirus pandemic, Macy's (M) - Get Report stock has been slow out of the gate towards recovery. Is now the time to buy shares of Macy's or is this one of the companies that will be lost after this recession?
Cramer talks about why he is not planning to buy Macy's stock any time soon.
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