CNBC’s Jim Cramer said Tuesday that a rare phenomenon is occurring in the market.
The “Bad money“The host noted that stocks were rising on positive news, but the movement played out over multiple trading sessions. Typically, new information is burned into stock prices typically in a day, he said.
Instead, it takes days and days for good news to creep into the stock price, leaving you with plenty of buying opportunities on the way up, “he said. “I’ve been in this business for 40 years and that’s something [you almost] never see. “
Shares in automakers Ford and GM are up more than 6% this week after being upgraded by Wells Fargo analysts on Monday. Norwegian stocks are in double digits within two days after the company asked federal health officials to clear its ships for travel this summer.
Cramer also mentioned Yum Brands, Constellation Brands, Chipotle and Walmart among its booster stocks. Each of the above stocks outperform the broader market this week. Most have been in double digits since the beginning of the year.
“A rally that doesn’t produce salespeople is a crazy good thing, and that’s exactly what we have right now,” said Cramer. “That’s why I think Walmart, Yum Brands and Chipotle can keep going. That’s why I expect more of the same from casinos and cruise stocks.”
Disclosure: Cramer’s charitable foundation owns shares in Ford and Walmart.