What Cramer is watching Monday — cyclone of stock selling and a crypto reckoning

Published Mon, Jun 13 20229:36 AM EDTUpdated Mon, Jun 13 202210:15 AM EDT

What I am looking at June 13, 2022 Two year treasury rate highest since 2007, the made up stuff is being flushed out. Cyclone of selling Monday morning annihilates dip buyers. Crypto Monday: Lender Celsius said Monday it was pausing all withdrawals, raising concerns about Celsius' solvency . Show me the money. Negatives all over the place for this group. What is the platform worth? $12 billion in assets under management, down from $26 billion late last year. Bitcoin fell below $24,000, its lowest level since December 2020. They paid high interest Meanwhile, cryptocurrency exchange Binance said Monday morning that it was temporarily pausing bitcoin withdrawals "due to a stuck transaction causing a backlog." Software stock MicroStrategy (MSTR) fell more than 20% in premarket trading. The company has a big bet on bitcoin and could be forced to sell some if the currency hits key margin call level of $21,000. Many of the tech execs I spoke to last week in Silicon Valley said that crypto was one big con job. Check out the 15 surprising things I learned on my trip to San Francisco. Silvergate Capital (SI) initiated with a buy rating at Wells Fargo. The crypto-focused bank saw its stock fall more than 13% in response to the decline in bitcoin and other digital assets. Goldman Sachs' analyst David Kostin is somewhat more constructive in his approach to the current market, advising investors to look for dividend payers and quality stocks trade at low valuations. Morgan Stanley's Mike Wilson seemingly more negative than ever. Citi's Christopher Danely says notebooks will miss again and says could hit Advanced Micro Devices (AMD) and Intel (INTC). He is now relentlessly negative, reiterating hold ratings on both chipmakers. AmerisourceBergen (ABC) is a treasured name because it's almost impossible to miss brand new numbers — so UBS says buy Natural gas producer EQT Corporation (EQT) price target raised to $50 from $41 at Credit Suisse. On the verge of trade down, which means Campbell Soup (CPB) and Kraft Heinz (KHC) Wolfe downgrades DocuSign (DOCU) to sell from hold. EV start-up Electric Last Mile Solutions (ELMS) to file for Chapter 7 bankruptcy protection. First of post-SPAC electric vehicle maker go belly up. UBS says Chipotle Mexican Grill's (CMG) brand well positioned with levers and sales and resiliency. Apple (AAPL) — positive notes: Barclays sees strong build; JPMorgan sees services side racing. Morgan Stanley likes Coca-Cola (KO). (Jim Cramer's Charitable Trust is long AMD, AAPL . See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

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What I am looking at June 13, 2022

Two year treasury rate highest since 2007, the made up stuff is being flushed out.
Cyclone of selling Monday morning annihilates dip buyers.
Crypto Monday: Lender Celsius said Monday it was pausing all withdrawals, raising concerns about Celsius' solvency. Show me the money. Negatives all over the place for this group. What is the platform worth? $12 billion in assets under management, down from $26 billion late last year.