Jim Cramer breaks down Take-Two's quarter and the U.S. Treasury Department officially labeling China a currency designator.
Is China a Currency Manipulator?
The U.S. Treasury Department labeled China a currency manipulator late Monday.
Cramer wrote about it in his evening column on Real Money Monday.
Here's a sneak peek:
How much of the decline was a belief that this currency manipulation label could happen given that the President tweeted that's what China is? Did someone think that Treasury Secretary Steven Mnuchin would arrive at a different conclusion from his boss? Who do they think he is, Hamilton?
But, is this label really news?
Don't Break These After Hours Rules
Stop breaking Cramer's rules for after-hours trading, folks.
In his morning column on Tuesday, here's what he wrote:
They violated every rule I have ever taught and I want to out these fools as reminders that you must never underestimate the ability of traders to do the dumbest of things. And as far as I am concerned, those trades and dozens of others like them, were the work of true morons.
Take-Two Interactive Beats Estimates
The company reported a fiscal first quarter, topping Street forecasts of 41 cents per share.
"We delivered significant net bookings and cash flow growth driven by the performance of Grand Theft Auto Online and Grand Theft Auto V, NBA 2K19, the Borderlands franchise and Red Dead Redemption 2, and Red Dead Online," CEO Stauss Zelnick told analysts on Monday evening. "As we approach the sixth anniversary of their initial launch, sales of Grand Theft Auto V and recurrent consumer spending on Grand Theft Auto Online once again exceeded our expectations in the first quarter.