CNBC’s Jim Cramer said on Monday.
“The house of happiness has a wall of traditional stocks that have been scrutinized. But the house of pain has collapsed, ”said the“ Mad Money ”host.
Cyclical stocks that have adapted to the broader economy have burned and pushed the stock market to new highs, Cramer said.He pointed to stocks such as Emerson Electric, Ingersoll Rand, Honeywell, PPG, Home Depot, Lowe’s, J.P. Morgan. Chase and Wells Fargo
Each of these stocks minus Honeywell has outpaced the market, Wells Fargo, up 45 percent, is the strongest performer in the segment.
“Then you have a second market, a market dominated by a young generation attracted by commission-free trading, an easy-to-use Robinhood app, and some really exciting stocks that bring people”; good luck. ” In the last year, Cramer said.
Tesla and Zoom shares have struggled to maintain momentum after dropping some eye-catching numbers for 2020. Zoom has fallen more than 8% this year and 45% from its October peak.Tesla’s shares have risen just 1% since the start of the year. The stock last traded at $ 714.63, down about 21 percent from the end of January.
Cramer also said that several SPAC dramas were included in the Some of the “houses of pain” include QuantumScape, Nikola and Lordstown Motors, whose shares are down between 32% and 63% this year.
Disclosure: Cramer’s charitable trust owns shares of Honeywell.
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