Key Highlights from Jim Cramer’s CNBC Investment Club Meeting
Every weekday at 10:20 a.m. ET, Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream. Here’s what happened on Tuesday.
1. The S&P 500 experienced a dip after three consecutive days of gains. SpaceX’s stock continued its upward trajectory following its public offering on Friday. Jim Cramer, who supported Elon Musk in his recent column, noted that SpaceX’s market cap has surpassed that of Amazon—and even Microsoft for a brief moment. “This is what captured the hearts of Americans,” he remarked. Jeff Marks, the director of portfolio analysis for the club, hinted that there might be “selling to support the impressive market cap that SpaceX is establishing.” Don’t miss our monthly meeting on Wednesday at noon ET, where Jim and Jeff will evaluate the SpaceX and CNBC Investing Club portfolios.
2. Intel saw a nearly 6% drop in its stock price, prompting us to increase our investment from two weeks ago. In this current market, Jim prefers Intel over Nvidia, expressing frustration over Nvidia’s inability to maintain a rally. The company, led by Jensen Huang, saw a 3.5% increase on Monday following the announcement of a $25 billion bond sale. Jim was disappointed that Nvidia didn’t provide updates regarding its stock repurchase program, noting that Nvidia had a slight increase of about 1.5% on Tuesday. “I don’t want to see that,” Jim stated.
3. Salesforce faced its 11th straight decrease after unveiling plans to acquire the AI customer service platform Fin for $3.6 billion. Jim described Salesforce as “a really hated stock.” Despite this, he supports the acquisition, which aims to broaden Salesforce’s agency operations. Jim has long backed CEO Marc Benioff and believes the company could navigate through concerns about AI disrupting the software sector. However, he admitted that this narrative might not be shifting. Regarding Salesforce’s poor performance, he remarked, “Selling at a low price is scary. But it’s pretty daunting.” Jim plans to delve deeper into this topic during the Wednesday meeting.
4. At the end of the video on Tuesday, several stocks were mentioned rapidly, including Exxon Mobil, Palantir, Yum Brands, Qualcomm, and Robinhood. (The Jim Cramer Charitable Trust holds positions in AMZN, MSFT, CRM, INTC, NVDA. For a complete stock list, see here.) As a member of Jim Cramer’s CNBC Investment Club, you’ll receive trade alerts prior to his transactions. After sending a trade alert, Jim waits 45 minutes to act on trades within his charitable trust’s portfolio. If he discusses a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. This information about the investment club aligns with our Terms of Use and Privacy Policy. No fiduciary responsibilities arise from your access to the information shared regarding the Investment Club. Individual results or benefits are not guaranteed.
