In this article, we will look at the stocks Jim Cramer was focused on as he discussed Mad Money’s latest game plan for the week. The host of CNBC’s Mad Money said on Friday that the stock market needs additional catalysts for gains to spread beyond the data center trade.
When we come in on Monday, we may have a deal with Iran. Who knows?… I think that we will be very quickly awash in oil, and I suspect a very fast plummet to the 70s from the high 80s to low 90s when it comes to the price of oil. I want this market to broaden beyond tech, but it can’t do that because of the war… The American consumer is remarkably resilient. That’s been one of my themes.… But it only takes, they can only take it so far.
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Cramer said investors will be closely watching the upcoming Friday’s non-farm payrolls report from the Labor Department. He questioned whether the data could finally begin to show employment gains tied to the massive wave of data center construction taking place across the country. He went on to say that those jobs have not yet appeared in the economic data in a meaningful way. He also said the numbers may need to come in weak enough to support the case for a Federal Reserve rate cut. He added that the new Fed chief, Kevin Warsh, would need to see genuinely soft employment data before aggressively advocating lower interest rates.
But the bottom line: Beyond the data center, this market could really use some peace in the Middle East or at least something that can reopen the Strait of Hormuz, bring down the price of oil, and allow the bull market, which is so much centered on tech, to broaden out to more economically sensitive sectors. Otherwise, hardware, software, who knows? But they all seem to be in play as the magnificent month of May draws to a close.
Our Methodology
For this article, we compiled a list of 25 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on May 29. We listed the stocks in the order that Cramer mentioned them.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
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25. BigBear.ai Holdings, Inc. (NYSE:BBAI)
BigBear.ai Holdings, Inc. (NYSE:BBAI) was among the stocks Jim Cramer was focused on, as he discussed Mad Money’s latest game plan for the week. A caller asked for Cramer’s opinion toward the end of the lightning round. In response, he commented:
Total spec, total spec, because it loses money hand over fist. I can’t recommend it, but if you want to speculate on it, that’s fine.
BigBear.ai Holdings, Inc. (NYSE:BBAI) provides AI-powered decision intelligence and cybersecurity solutions for the national security, supply chain, and digital identity markets. A caller inquired about the stock during the March 18 episode, and Cramer replied:
No, I’m familiar, but I have to tell you, it’s losing a lot of money, and we are out of the year of magical investing. We don’t have it anymore. This is a tougher tape. We do not want to go there.
24. Ellington Financial Inc. (NYSE:EFC)
Ellington Financial Inc. (NYSE:EFC) was among the stocks Jim Cramer was focused on, as he discussed Mad Money’s latest game plan for the week. When a caller mentioned that they had held EFC shares for 12 years, Cramer said:
Well, my problem is this: That’s been a mortgage, when I see these mortgage finance companies, I never know what they really own, so I never feel like I can give any good guidance. So that’s why I do not recommend them, even though they have very big yields. Not for me.
Ellington Financial Inc. (NYSE:EFC) acquires and manages a diverse portfolio of financial assets, including residential and commercial mortgage loans, consumer loans, corporate debt, and derivatives. As a real estate investment trust, the firm also handles reverse mortgages and distributes at least 90% of its taxable income to shareholders as dividends.
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