Monday, March 27, 2023: Cramer opens a new position in this retailer

Jim Cramer and Jeff Marks discuss their market outlook after First Citizens acquires a large portion of Silicon Valley Bank. Jim says the banking crisis is not over yet but has slowed significantly. Jim shares why he is initiating a position in a new retail stock that is already performing nicely. Finally, Jim and Jeff talk about why they are not phased after one portfolio holding was hit with a downgrade.