Everything Jim Cramer said about the stock market on 'Mad Money,' including coronavirus and recession fears, Tesla and Nordstrom
CNBC's Jim Cramer explains what is at stake regarding the long-term economic consequences of the coronavirus. The "Mad Money" host then breaks down why the recent success of Tesla and its CEO Elon Musk is reminiscent of what Amazon and Netflix accomplished years ago. Later in the show, Cramer goes through his rapid stock picks for callers in the Lightning Round.
Will the coronavirus cause a recession?
It's too early to determine the long-term economic consequences of the deadly coronavirus, CNBC's Jim Cramer said Thursday.
The "Mad Money" host said there are obviously immediate concerns surrounding the economy of China, where the outbreak first appeared. But the fears do not end there.
"China's not just exporting a virus, it could potentially export a severe slowdown," Cramer said.
At the same time, Cramer said there are mixed signals in the U.S., particularly when it comes the bond market and quarterly earnings report.
Tesla's success is similar to Amazon and Netflix
's success reminds Cramer of what has been accomplished by and , companies that overcame early doubters to upend industries.
"Wall Street never runs out of money for a company that has the best product, flawless execution and off-the-charts demand," Cramer explained. "They don't come around very often, but when they do, the usual financial concerns go out the window and ... the real believers make big money."
Like Amazon and Netflix before it, Tesla is one of those companies, Cramer said.
Cramer's lightning round
: "I felt that the possibility that Bernie Sanders wins on Monday made it so we had to sell UnitedHealth for the charitable trust, even though I think it's a great company, because I think he doesn't even believe it should exist."
: "My buddy Matt Boss at J.P. Morgan is really saying, 'This could be, this could be, this could be,' but you know what I say, let somebody else make that money ... I prefer Costco."
: "It's kind of one of those companies that recycles old oil. It's a renewable chemical that I think has a place as a spec, but that is it, OK? I'd rather be in Clean Harbors. I really would."
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