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Stock Market Today With Jim Cramer: PayPal Pays, Bed Bath Moonshot

PayPal and Bed Bath & Beyond are two companies Jim Cramer believes in.

Stocks rose Thursday after the number of Americans filing for first-time unemployment benefits fell last week, durable goods orders climbed at the fastest pace since January and President Joe Biden announced a tentative agreement on a $559 billion infrastructure plan.

“We have a deal,” Biden told reporters after a bipartisan agreement was presented to him at the White House. 

Jim Cramer on Fintech and Banking Stocks

PayPal  (PYPL) - Get PayPal Holdings Inc Report shares rose 2% to $293.76 Thursday afternoon as fintech stocks rose amid the broad market jump. 

"PayPal did raise rates. And PayPal does not have the kind of debt worries that a bank has. It is unregulated," Jim Cramer said Thursday. 

He said he's glad that he and his team at Action Alerts PLUS bought the stock for the investing club's portfolio.

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The Action Alerts PLUS investing team made "prescient" sales of JPMorgan Chase  (JPM) - Get JPMorgan Chase & Co. (JPM) Report and Goldman Sachs  (GS) - Get Goldman Sachs Group, Inc. (GS) Report, Cramer said. 

Bed Bath & Beyond to the Moon, Cramer Tweets

Jim Cramer is a believer in Bed Bath & Beyond  (BBBY) - Get Bed Bath & Beyond Inc. Report now that the Reddit crowd has moved on from the stock. There's still a 33% short interest in the home-goods retailer, which could make it potentially a meme-stock target once again.

"It was hard to move because the shorts came out again and there's a lot of people who bought it in the $13/$17 area and they want to take the profit," Cramer said. 

Cramer says that the strategies from CEO Mark Tritton, who was previously chief merchandising officer for Target  (TGT) - Get Target Corporation Report, are working.