The stock market is ultimately a supermarket, Jim Cramer told his Mad Money viewers on Monday. But unlike a supermarket, Wall Street is more of a buyer bewarebuyer beware), Cramer said, as he embraced his return to the New York Stock Exchange floor for the first time since the pandemic began.
Although Monday was a low day for stocks, Cramer said the importance of the New York Stock Exchange simply cannot be underestimated. The New York Stock Exchange has both real and symbolic functions. It’s the place startups go to ring the opening bell when they have an initial public offering, but it’s also the place to get the best price, as well as to “feel” how buyers and sellers are behaving.
On Monday, there were more sellers than buyers, Cramer said, and more large accounts unloaded their positions, forcing prices down. However, that was not the case for all stocks, as Biogen (BIIB) – Get report He fanned the street with the approval of his new Alzheimer’s drug. The shares rose, closing more than 38% at the close.
Many people ask whether the floor of the New York Stock Exchange still matters, a question Cramer answered with a resounding “Yes.” Wall Street is a sanctuary of capitalism, he concluded, and it remains the fairest place to buy and sell stocks.
Executive Decision: T-Mobile
In his first segment of “Executive Decision,” Cramer spoke with Mike Sievert, president and CEO of T-Mobile. (TMUS) – Get report, the wireless service provider that has grown 86% in the last two years as it became the largest 5G operator in the country.
When asked how a No. 3 fighter was able to unseat two giants, Sievert explained that AT&T and Verizon simply looked away from the ball with media mergers, acquisitions and partnerships that ultimately failed. T-Mobile is a pure 5G Internet provider and has been ahead for years with the right spectrum, technology and policies for the customer who love their users. The company added 1.4 million new net subscribers this quarter alone.
T-Mobile is also leading the charge with 5G home broadband, Sievert said. Its 5G is so fast that it is already faster than most Wi-Fi systems and in many areas of the country, 5G is the only high-speed option.
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