Jim Cramer and Katherine Ross are discussing AMC (AMC) - Get AMC Entertainment Holdings, Inc. Class A Report, GameStop (GME) - Get GameStop Corp. Class A Report, Best Buy (BBY) - Get Best Buy Co., Inc. Report, Costco (COST) - Get Costco Wholesale Corporation Report, Gap (GPS) - Get Gap, Inc. (GPS) Report and Salesforce (CRM) - Get salesforce.com, inc. Report in the video below:
The Meme Stocks Lift Off Again
The stocks of AMC and GameStop can't stop, won't stop due to the self-proclaimed apes, or social media retail investors who believe in both companies and are executing a short-squeeze.
Though M. Corey Goldman attributed part of AMC's rise to the fact that there is "a generally positive view that the world’s biggest movie-theater company’s worst days are over."
Salesforce posted net income of $469 million, or 50 cents a share, compared with $99 million, or 11 cents a share, a year ago. Adjusted earnings came to $1.21 a share.
And Salesforce CEO Marc "Benioff said Salesforce just completed their best first quarter ever, with sales, earnings and cash flow all ending better than expected. Customers like Sonos (SONO) - Get Report used Salesforce to drive their direct-to-consumer sales which rose by 84%," wrote TheStreet's Scott Rutt. "Salesforce is also continuing its march to do well by doing good, focusing on not only profits but also social, cultural and environmental efforts. The company is actively engaged in fighting the pandemic with contact-tracing applications, a vaccine cloud and tools to help companies get their employees back to the office."
Hear what Jim Cramer is only telling members of his Action Alerts PLUS investing club in Friday's Daily Rundown.