Why Jim Cramer Picked FAANG and Stands Behind It

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The Nasdaq toyed with all-time highs premarket before giving in to the broader selloff Friday as investors increasingly shifted from industrial and value names back into high-growth tech stocks.

In a recent column on Real Money, Jim Cramer noted that for right or wrong, the latest FOMC rates decision and subsequent commentary from Fed Chair Jerome Powell effectively signaled to investors that the inflation trade is dead. Cramer wrote that this hypothesis explains why the Caterpillar's CAT of the world where lower Thursday as big tech and the FAANG names soared.

So why is Cramer still so focused on FAANG after all of these years?

“Those companies reinvent themselves regularly. If they just were static companies like IBM was, it would be a silly acronym,” Cramer told Action Alerts PLUS senior analyst Jeff Marks during TheStreet Live. 

Recap TheStreet Live: Everything Jim Cramer Is Watching 6/18/21

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