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If you own stocks, you need to be worried
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Loading...If you own stocks, you need to be worried every single day, Jim Cramer told his Mad Money viewers Thursday.
Cramer admitted that there's a lot he's worried about in today's market. He's worried that the rising tensions with North Korea will have to get solved one way or another, and none of the options are positive for stocks.
Cramer said he's worried about Washington. With only 60 working days left for Congress this year, we're barely likely to have a budget, let alone real reforms or economic stimulus.
This market's rally isn't just about flashy tech stocks, Cramer told viewers, as he highlighted Avery Dennison (AVY) the little known label and coatings maker with shares that are up 27% so far this year. Avery is a slow and steady company, Cramer noted, delivering 4% to 5% sales growth and a solid 17% rise in earnings.
Cramer said the Blue Apron has a terrific concept, but the company waited too long to come public.
The IPO was eagerly anticipated between $15 and $17 a share, Cramer said, but then the price was slashed to an embarrassing $10 a share, only to see shares plummet 20% post-IPO to $8.06 today.
Making matters worse, Blue Apron now has a ton of competitors, not the least of which is Amazon, which bought Whole Foods Market (WFM) last month. With Amazon entering the grocery game in a big way, it's hard to justify paying up for Blue Apron.
Lightning Round
In the Lightning Round, Cramer was bullish on II-VI (IIVI) , AT&T (T) and Pepsico (PEP) .
Cramer was bearish on Halliburton (HAL) , JM Smucker (SJM) and Chicago Bridge & Iron (CBI) .
Source: Bloomberg
Junior Trader Stefan Panteleev
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