We recently published a list of Jim Cramer Discusses These 12 Stocks & Says Mag 7 Stocks Are A Thing Of The Past. In this article, we are going to take a look at where DICK’S Sporting Goods, Inc. (NYSE:DKS) stands against other stocks that Jim Cramer discusses.
In a fresh appearance on CNBC’s Squawk on the Street, Jim Cramer couldn’t stop talking about the stock market bloodbath on Monday that saw the S&P and Dow indexes post their worst day since December and the NASDAQ post its worst day since 2022. He started out by reiterating that the era of Magnificent 7 stocks appeared to be over. “I think this is a very crucial day and I just want to say, what I was saying was historically empirical, not hysterical and crazy,” Cramer shared. “I was looking at the Magnificent 7 for when Michael Hartnett created from Bank of America, and he did in May of 2023. And, what’s happened is this that we no longer have the top seven were, Magnificent 7,” he added.
Cramer stated that the Mag 7 stocks “were just about what was big market cap.” Recalling the banking crisis of 2023, he added: “And it was about what happened . . .this is the time of the banking crisis, two years ago. And that’s when this group asserted itself and they were responsible for all the gains. And that’s over. It’s hard to be Magnificent 7 when you’re not in the top seven.”
Television shows were on his mind when discussing the Mag 7’s fall from grace. Cramer likened Mark Zuckerberg’s social media company to Vin Tanner, who was played by Steve McQueen in the television series called the Magnificent 7. “[T]hat’s Steve McQueen obviously,” said Cramer. McQueen “was a great charitable guy, covered his death when I was in LA,” he shared.
Further elaborating on how the Mag 7 stocks were no longer the most valuable companies on Wall Street, Cramer shared that the world’s largest brick-and-mortar retailer was “at one point, was flirting with number ten,” which was Elon Musk’s car company. Naturally, this made him wonder: “So how are we supposed to, if we go back in time how this was created. They were the top seven. And, it was just not enough juice. They had nothing to do with each other. That’s been revealed.”
When his co-host Carl Quintanilla pointed out that the selloff was more than just the top stocks as 160 S&P names fell 4%, Cramer shared:
“I was looking at the stocks that have a market cap of five billion. That have fallen, fallen fifty percent since the election. . . .These are really good companies. So what I’m saying is this that we have overwhelm in tech. We have ways to get out of this.”
The conversation also saw him comment briefly on the mergers and acquisition market in the US. Cramer shared:
“I have really good information, up to date now on what’s going on in M&A. There’s a pause. I don’t wanna say it’s a shut down. There’s a pause. There are very few deals. There were going to be many deals. Now people want to wait. I mean many deals. I mean the pipeline was really rather extraordinary a month ago. . .but it’s put on hold, not done. But it is a floodgate ready to happen if there can just be a [inaudible] from Washington.”
Naturally, since the stock market crash was influenced in part by recessionary worries and President Trump’s tariffs, Cramer commented on the President in line with global stock markets:
“This weekend I did a piece, and I said everyone keeps thinking about the Dow. I think that the President is competitive versus other countries. And he could very quickly say look, he has distinguished himself by not caring about the stock market. Well how about their stock markets? They’re crushing us. Are we really going to let the Italian stock market beat us? Is Spain gonna? Spain? Spain?! I mean are you kidding me? I don’t think it’s been this strong since Franco!”
Our Methodology
To make our list of the stocks that Jim Cramer talked about, we listed down all the stocks he mentioned during CNBC’s Squawk on the Street aired on March 11th.
For these stocks, we also mentioned the number of hedge fund investors. 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
DICK’S Sporting Goods, Inc. (NYSE:DKS)
Number of Hedge Fund Holders In Q4 2024: 45
DICK’S Sporting Goods, Inc. (NYSE:DKS) is an American sports goods retailer that sells products for fishing, golfing, fitness, and other activities. Over the year, the shares have gained 10% as the firm has battled constrained consumer spending amidst high inflation. Cramer’s previous comments about DICK’S Sporting Goods, Inc. (NYSE:DKS) have seen him remain upbeat about the firm ahead of its earnings. The shares fell by 7% after the firm’s latest earnings report. Here are Cramer’s thoughts:
“I think it’s hard because I actually thought Dick’s was okay. People didn’t like the, they didn’t like the guide.
“And I actually think Dick’s was better than people realized.
“. . .a lot of stocks that need to go down. Let’s talk about Dick’s. When I came in Dick’s was down ten points, DKS. The conference call was incredibly, very, very bullish. Lauren Hobart doing a terrific job. She’s non-promotional. I wanna point out again that the comparable store sales was 6.4%. That’s far better than people thought. Again, we’re in a difficult situation Carl. You look at headlines. And headlines are so often wrong these days that they happen so fast. And they just scrape. And they scraped incorrectly. And I think that Lauren, because she’s not promotional, was not able to get the story out in the headline. But Dick’s had a really good quarter. And you know if you look at the stack year-over-year, two years, it’s really extraordinary. So that stock has now rallied nine points from where it was. If that goes green then I think you asked me earlier about the consumer discretionary, that would be the one to watch. It’s gotta go green. It’s not enough yet. But that’s the one that can save consumer discretionary.
“You know look, it’s a great quarter. I mean okay so the outlook, I know the forecast is the forecast, I’m wise enough to know that. I didn’t fall off the turnip truck. But I do think that I could make a very good case. 362 vs 354. Sales got a little light, but again they are very conservative and they’re, the ticket, the price is up a lot.”
Overall, DKS ranks 6th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of DKS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than DKS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.