Jim Cramer on Second Quarter: Lots of 'Ingenuity' on Wall Street
Today is the final day of the second quarter. And, so far, 2020 has definitely proven to be a...year whether it's in the markets or just in whatever is left of your everyday life.
So, what was your biggest takeaway from the second quarter of 2020?
TheStreet asked Jim Cramer what his was.
Surprisingly, he said "ingenuity."
"I think it was ingenuity. The companies that addressed the stay-at-home, that figured out what to do, that reacted quickly enough, did well. And the companies that basically just said, "You know what? "It's business as usual. "There's nothing we can do." They did badly. Some companies, because of the industry that they were in, couldn't advance, like a Starbucks or a Carnival Cruise. I could argue that Starbucks is trying to take a long term view. They have China that's come back. They're rebuilding the way that they sell in this country. But if you were a company that just said, hey man, we're outta luck, and didn't change your stripes, well, you've been left behind," Cramer explained.
Watch the full video above for more.