What GameStop Tells Jim Cramer About Stock Market Wednesday

In Wednesday's market breakdown, Jim Cramer and Katherine Ross talk Zoom, Intel, Visa, Qualcomm, GameStop and more.
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Stocks eked out minor gains Wednesday, as investors looked past the impeachment vote unfolding in the House of Representatives.

Investors are forward-looking, eyeing the Jan. 20 inauguration of President-elect Joe Biden. 

However, Jim Cramer told TheStreet Live Wednesday, the events on Capitol Hill and what may come next continues to be on the minds of many on Wall Street. 

“The propensity for there to be violence these days makes it so tension is heightened,” Cramer said. 

"It’s not going to discourage long-term buyers; it may not discourage younger buyers, but it’s on my mind," Cramer added. 

In the video below, Jim Cramer and Katherine Ross talk Zoom  (ZM) - Get Report, Intel  (INTC) - Get Report, Visa  (V) - Get Report, Qualcomm  (QCOM) - Get Report and more: 

And let's turn towards another Wall Street focus--earnings. 

In Jim Cramer's Real Money column on Tuesday afternoon, Cramer broke down the stocks he's watching. 

"We are seeing [analysts gun shy to raise earnings estimates ahead of earnings reports] in so many industries that my head is spinning. When the pandemic made restaurants close, the stock of Darden (DRI) went from $121 to $33 with the price targets barreling down with the darned thing. But when we got the vaccine, the parent company of Olive Garden saw its stock go to $127, with analysts chasing it and trying to get ahead of it, with price target boosts all the way," Cramer wrote. "We saw the same thing with Caterpillar (CAT) . Here's a company with a stock that you would never want to own in a recession. But how about if rates are so low that we get a spark in housing like we haven't seen in ages? How about if China comes back online instantly and starts ordering machines again? What if the Democrats take control of both houses and we get an infrastructure bill? What if oil doubles off its lows and the oil companies start drilling again?"

Commenting on his piece, Cramer said that when looking at stocks like GameStop  (GME) - Get Report and even Darden, that Wall Street has non-traditional research to consider in addition to analyst notes. 

More: GameStop Names 3 New Directors In Deal With Activist Investor 

"There are more and more places where stocks are running and non-analysts are behind it or at least cheering it on, and the actual analysts have to catch up," Cramer said. 

GameStop is up over 60% in intraday trading Wednesday. 

Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Watch Cramer's exclusive members-only Daily Rundown show on Action Alerts PLUS following TheStreet Live.

Daniel Kuhn contributed reporting to this article.