Jim Cramer on the New York Stock Exchange's Decision to Temporarily Close

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The New York Stock Exchange will shift to all-electronic trading starting Monday in response to the coronavirus, exchange owner Intercontinental Exchange, Inc.said Wednesday.

The shift will affect the NYSE equities trading floor in New York, the NYSE American Options trading floor in New York, and the NYSE Arca Options trading floor in San Francisco.

So what does Cramer think?

Watch the full video above for more.

Video Transcript:

Katherine Ross:
We got the news last night that the NYSE, starting Monday, will be going electronic. You and I have had multiple conversations about where we normally host the show and how important it is to have that human touch.

Katherine Ross:
So, in this age of electronic trading, how important is it to have humans still trading?

Jim Cramer:
Well, I guess, obviously, it isn't. I mean, if they have the capacity to be all machine, then when this is over, I imagine, they could easily say, "Listen. It worked all machine." What, J.P. Morgan closed a thousand branches? And it may turn out, if it doesn't impact their business, they'll keep those closed. I think that a lot of people have been putting together a stay-at-home economy idea just in case this thing doesn't end soon. And I think that people are realizing that they can come to the office far less.

Jim Cramer:
If you want to have a lower carbon footprint, what do you do? Okay. Well, you just say, "You know what? This Zoom really worked, and Webex from Cisco really worked, so we're going to cut our carbon footprint by having it so you don't drive to work." So I think that there are a lot of people, by the way, in a very ethereal way, are understanding, believe, that COVID is the planet's response to what we've done to it. Actually talking about that a lot. And I think that we're going to come out on the other side, and we're going to be very, very different. And the New York Stock Exchange is emblematic. If people can work at home, we would just cut back carbon use gigantically. It's going to be a very big theme. Has to be. Has to be. I'm writing it down so I have it 

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