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Stock Market Today with Jim Cramer: How to Trade fuboTV

Jim Cramer discusses the latest stock market news, including how to trade fuboTV after earnings; Roblox, and markets on Wednesday.

Stocks fell for a third consecutive session on Wednesday after consumer prices in the U.S. jumped in April by the most since 2009.

TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about how to trade fuboTV after earnings and touched on Roblox and markets on Wednesday.

FuboTV: Buy Or Sell?

Shares of fuboTV  (FUBO) - Get fuboTV Inc. Report soared Wednesday after the sports streaming company reported that revenue more than doubled in the first quarter and it boosted its guidance.

Cramer said fuboTV "got cut into half. It was up when they got an NFL game with a Packer game and that turned out to be the peak. They've got some World Cup qualifiers but the only reason the stock is up is because it's been down so much and the shorts have leaned on it. So, I wouldn't mess with it," he added.

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Roblox: Buy Or Sell?

After the bell on Monday Roblox  (RBLX) - Get Roblox Corporation Class A Report reported its first financial results since coming public, posting better-than-expected bookings on a surge in daily users.

Cramer said Roblox, which is lower on Wednesday, is a buy. "It is an incredible company; it's a low multiple stock because the business is so good," he added.

Wednesday's Market

Cramer said he's watching interest rates and oil prices in the markets today. "Oil is up too much so interest rates are going up, particularly because of that red hot CPI number. That means that you can't get a bottom in tech yet because price-to-earnings ratios will continue to contract. That has been the bane of existence. And you cannot bet on the Fed staying as easy as they'd like to if we got more numbers like this," said Cramer.

None of the stocks mentioned in this article are key holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer adds or removes stocks from his portfolio? Learn more now.