Happy hump day!
Jim Cramer has some thoughts on the coronavirus pandemic and how the government is responding overall.
Here's what he thinks about McDonald's after the company announced a 22% fall in global same-store sales in March.
"...But that wasn't bad. I sold McDonald's domestic and I expected really, really bad numbers and comps were down 3.4%. There was a management teams six years ago where that would have been good numbers. So, I thought that was okay. I thought McDonald's was good. I was tempted to buy it off that. We're waiting for discounts. If McDonald's had broken down today off that number, which I was hoping it would, then I would've said, "You know what? If McDonald's yields more than three, we got to get interested." It's the same way that when Home Depot got to three I said, "Look, I got to be interested in Home Depot. Anytime it's under 200 you get to three." So, I think McDonald's is going to stop. I just wanted it to be down today," said Cramer.
What's On Jim Cramer's Mind?
Here's what's on Cramer's mind Wednesday afternoon.
"America may soon be open for business, and we sure hope that when we open, customers show up. But you know where they are really open for business? China," wrote Cramer.
"Hate the People's Republic or love it, with the opening of Wuhan last night, it's a whole new ball game for the market of 1.4 billion people and we are seeing instant winners. First? I like UPS (UPS) and FedEx (FDX) , both of which are helped, by the way, by all the gift of traffic from Amazon (AMZN) , which is ceding business to them, because it has too much itself," Cramer continued.
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