Dow futures stocks set record highs amid vaccine deployments and stimulus hopes. According to reports, Congress is approaching a $ 900 billion aid package that could send checks of between $ 600 and $ 700 before the end of the year.
In the latest episode of Mad Money, Jim Cramer said that, quite or unfairly, this is a great time for the stock market. While doubters might think the concentration is false, Cramer said there are many things to enjoy entering 2021.
Katherine Ross and Cramer of TheStreet talk about United Airlines ’contact tracking program, buying more Bitcoin, and the complaint filed against Robinhood.
United Airlines Stock: Buy or Sell?
Wednesday, United Airlines (UAL) – Get the report he said he will work with the Centers for Disease Control and Prevention (CDC) to collect customer contact information for all domestic and international flights.
Shares of United Airlines, JetBlue Airways and Spirit Airlines tumbled on Wednesday after JP Morgan analyst Jamie Baker dropped below three overweight airlines.
Baker attributed the move to inflated stock valuations following their recent build-up. This wave has “significantly diminished the implicit upward potential” for companies next year as they have already failed to meet their targets by the end of 2021, Baker wrote in a report quoted by The Fly.
Cramer said airlines have advanced on everything involving masks and contact tracking, but he believes it won’t matter.
“The important thing is, simple and straightforward, the vaccine,” he said. Cramer added that more than 300 million Americans need to be vaccinated by the end of February.
Buying more Bitcoin
Bitcoin continued to soar to new records, breaking the $ 20,000 barrier for the first time on Wednesday as investors and speculators joined.
Some are eager to be a part of the fun and others are afraid of losing all the benefits their neighbors boast. Advertising masters are now asking for a price of $ 30,000. Bitcoin was recently trading at $ 20,755, up 6.9% and up 77% over the past three months.
Cramer is looking to buy more Bitcoin and said he tries to buy Bitcoin every month.
“Bitcoin will not be the currency of the kingdom, but it is an additional diversification like gold,” he said.
Should Robinhood protect its users?
Massachusetts securities regulators are expected to file a lawsuit Wednesday against the trading platform operated by Robinhood Financial LLC, for allegedly aggressively trading inexperienced investors and failing to implement controls to protect them.
The Massachusetts Division of Securities executive group accused Robinhood of failing to protect its clients and property in violation of state laws and regulations, according to the Wall Street Journal, which cited a final draft of an administrative complaint .
Cramer said he didn’t like the term “gamification” of the actions used in the complaint, because he believes actions are a form of investment “but some are players and the game needs discipline.”
“They shouldn’t have used that term gamification as if those people were children because they were people with money who have researched,” he added.
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