Hot On Real Money
"Just because millennials love it doesn't mean you should buy it," says TheStreet's founder Jim Cramer in his latest Real Money column.
Adds Cramer: "There's only one issue: just because millennials like something doesn't mean that you should buy the stock. Yesterday Morgan Stanley put the cruise liner stocks (such as Carnival (CCL) ) in the hurt locker by pointing out that higher fuel costs and the stronger dollar are contributing to weaker gross margins and order softness. And, once again, we hear that too many cruise ships just came on the market precipitating ticket weakness. It doesn't matter how many millennials are buying tickets if those three factors aren't behaving. They are no panacea."
Watch Cramer and TheStreet's Scott Gamm discuss this topic live from the floor of the NYSE below.
About That Weed
Millennials love their weed, so here is a dose of optimism. A new study from Deloitte found that Canadians are expected to spend as much as $7.17 billion on cannabis products in 2019 following the legalization of recreational weed later this year. Overall consumption is expected to jump 35%, too.
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