In this piece, we will look at the stocks Jim Cramer recently discussed.
In his recent appearance on CNBC’s Squawk on the Street, Jim Cramer shared his thoughts about Elon Musk’s Department of Government Efficiency (DOGE), Musk’s role in the government, and its impact on his companies. Commenting on industry concerns about his government efficiency initiatives impacting his companies, Cramer shared that his car, AI, and rocket companies have “seen valuations soar in recent months. So, again, the complainers, they really have to re-think their view.” Musk “is creating wealth,” Cramer believes as he added that “he’s [Musk] changing the government. Cramer then wondered “is he President Musk?” and asked, “Who is The Apprentice?”
When asked if he didn’t have a problem with Musk splitting his between two companies “No, I don’t think that Dorsey, I did give him grief because it wasn’t clear that he was for everyone. This guy favors every. . . .look I, he is remarkable. I just don’t want him to show up here.” He added: “Look what do you do, when it says, Elon Musk on line two? What do you do?”
Another hot topic that caught Cramer’s attention was the SEC purportedly dropping its lawsuit against one of the most popular cryptocurrency exchanges in the US. He shared:
“Well look we always know why that it was a parochial view that Gensler took. Uh, Tim Massad over at the CFTC didn’t take that view. He said it’s going to be huge overseas because they got even less faith in their currencies than we have. And it’s got a lot more portability than gold. Look I’m a huge believer in it. I don’t know if I’m a believer in the big buck, but I am a believer in Bitcoin because I believe the thirty-six trillion, I don’t know what to do with the thirty-six trillion in debt. I haven’t figured that out yet, David. I thought when you spoke to Mnuchin, you would push the fifty-year bond that you know I’m a huge believer in.”
However, Cramer added that what former SEC chair Gary Gensler also “really didn’t like were the bogus coins! He didn’t wanna see that. . .”
The CNBC TV host also commented on AI and Elon Musk’s xAI announcing its Grok 3 model Cramer thought “it [Grok 3] was okay. I think it was okay. I don’t know, I caught ChatGPT hallucinating like mad yesterday. No, look, Grok 3’s okay.” When asked whether AI could displace a substantive portion of jobs, he shared:
“I do think that there are few employees in areas that are drone-like, but there are more employees in areas that really matter. I know Salesforce, really interesting that they’re talking about, you know lack of code. But they are putting people in a much more substantive position. I think banks will do that too.”
Returning to Musk’s DOGE, he shared:
“Uh, okay so there’s this piece in The Atlantic. ‘This Is What Happens When The DOGE Guys Take Over,’ I want everyone to read this piece. Because what it is, is they come in and they take over your computer and they find out what’s wrong. And it is devastating. Because they’re going into companies and really, and they’re going into agencies, and just taking over. It’s a great article. It’s heavily sourced. And one of the things that’s really clear about it is they’re winning. They’re winning. They’re finding things. And they tend to be in agencies so far which are, you know, I think of like the Consumer Financial Safety Board. They’re in there heavily. They tend be on to agencies that frankly many people would say, Democrat agencies. Democrat agencies.”
As for DOGE rapidly firing and re-hiring people, he commented: “This thing is done so ad-hoc, uh, there is, there’s almost no due process whatsoever. If you overwhelm the courts, and just make it so that they have to constantly take up these matters then, then DOGE wins. That seems to be the pattern. They can overwhelm the court system with all these different, if they just keep going after agency, after agency.”
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 February 21st.
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).
12. Coinbase Global, Inc. (NASDAQ:COIN)
Number of Hedge Fund Holders In Q4 2024: 68
Coinbase Global, Inc. (NASDAQ:COIN) is the largest cryptocurrency exchange in the US. Its shares performed well in 2024 due to the growing acceptability of cryptocurrency, particularly Bitcoin, as an investment medium. Over the past year, Coinbase Global, Inc. (NASDAQ:COIN)’s shares have gained 21.4% after a sizable 61.7% gain in November following President Trump’s election win. While the firm announced in February that the SEC would withdraw its lawsuit against it, the stock dipped by 8% amidst a broader drop for fintech stocks. Here is what Cramer said:
“Well that was a bridge too far for the SEC. And, I love the victory dance that they had on this morning.”
“And then Brian Armstrong just basically just saying that ha ha ha. But he just spent fifty million dollars fighting the SEC. And it’s obviously that Gensler was on the wrong side of history. It just happened.”
“[on whether the rebound in the stock can continue] No I think that once Gensler was out, I think he just presumed that they would withdraw it, that’s just the way of, I mean we have a crypto President. Crypto President. So you don’t, these agencies do serve at the behest of the President. I think people forget that. By the way, the Biden agencies served at [the] behest of Biden. And you saw a lot of adversarial, very adversarial rulings against businesses.”
11. Block, Inc. (NYSE:XYZ)
Number of Hedge Fund Holders In Q4 2024: 81
Block, Inc. (NYSE:XYZ) is a financial technology company that offers payment processing products and services. It is a new-age financial technology company that provides users with alternatives to banks to digitally conduct their transactions. Its customer base means that the firm depends on broader economic health and user spending. Block, Inc. (NYSE:XYZ)’s stock dipped by a whopping 18% in February after the firm’s 71 cents in EPS and $71 billion in revenue for the fourth quarter missed analyst estimates. Cramer, on the other hand, didn’t think Block, Inc. (NYSE:XYZ)’s quarter was that bad:
“Uh, look I don’t think, I didn’t think Block was that bad going back and forth with Amrita Ahuja who’s a terrific CFO. I thought the quarter was fine. I think that it’s still growing like mad. I just, it is been a good stock, not a great stock. Somewhat like PayPal.”
