Happy hump day!
Jim Cramer is weighing in on Casper, BP and the New Hampshire primary.
What's Going on With Casper?
"This market owes a big debt to Casper CSPR, the unfriendly IPO. The total collapse of this initial public offering will sideline a lot of crummy, money-losing deals for a few months and this, and the possible catastrophe that is Airbnb in a coronavirus world, could keep the supply of stock tight, giving the high fliers some room to run," wrote Cramer.
"Some people ask me what is really propelling the market. The lazy-minded people just say the Fed. It's easy. It always sounds smart. It requires no intellectual inquiry, but it works and they can always back it up with facts and figures."
So, does this mean that the market will be unfriendly towards unprofitable IPOs?
And Then There's BP
BP said that it has set 'net zero' target for emissions of 2050, a goal it says will require a "fundamental changes" for Europe's third-largest energy company under new CEO Bernard Looney.
"The world's carbon budget is finite and running out fast; we need a rapid transition to net zero. We all want energy that is reliable and affordable, but that is no longer enough. It must also be cleaner," said Looney. "To deliver that, trillions of dollars will need to be invested in replumbing and rewiring the world's energy system. It will require nothing short of reimagining energy as we know it."
"This will certainly be a challenge, but also a tremendous opportunity. It is clear to me, and to our stakeholders, that for BP to play our part and serve our purpose, we have to change," he added. "And we want to change - this is the right thing for the world and for BP."
Let's Talk About New Hampshire
The New Hampshire primaries were won by Bernie Sanders Tuesday night.
Bernie Sanders took home the New Hampshire primary last night. Pete Buttgieg came in a very close second, with Amy Klobuchar clenching third.
Elizabeth Warren and Joe Biden came in fourth and fifth.