It wasn't long ago that Jim Cramer was convinced that technology stocks were being sold off by money managers to fund stocks that will do well under President-elect Donald Trump — but now he's changed his opinion.
"With all of the money pouring from bonds into stocks, I'm not sure if that source of funds argument is as central as I initially thought," the "Mad Money" host said.
While Trump hasn't said much about the technology industry, Cramer heard several CEOs from the technology sector pushing the message that a Trump presidency could be catastrophic for innovation.
"Silicon Valley is a Democratic Party stronghold, and many tech executives decided to play politics ahead of the election," Cramer said.
Now that Election Day is over, while these executives may not like Trump, they do love his tax cuts and plan to allow them to repatriate overseas earnings.