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No Hope For Coal in This Country, Peabody’s Pain Will Last: Cramer

July 6, 2023
in Trade Tube
Reading Time: 2 mins read
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Jim Cramer answers viewers Twitter (TWTR) questions from the floor of the New York Stock Exchange. In response to a viewer who asks how much more pain investors in coal company Peabody Energy (BTU) can expect to endure, Cramer says, ‘a lot.’ He reasons that when the Rockies Express Pipeline, otherwise known as the REX pipeline, opens, it will be a death nail for all coal plants. The nearly 1700-mile long Rockies pipeline will transport Rocky Mountain gas to the Midwest. Cramer stresses that there’s ‘no hope for coal in this country’ as coal plants will be closed and everyone will turn to natural gas. Cramer also weighs in on semiconductor company Micron Technology (MU), a stock he says he’s been correct to be negative on for the past two quarters and sees no reason to get positive on now. He also reveals his opinion on shares of luxury retailer Michael Kors (KORS) as well as fitness product-maker Fitbit (FIT), a new issue that has only been public for a little less than two weeks. Cramer says many people are misinterpreting what Fitbit is really about. He says the company is really focused on wellness, especially for women, which he believes is a much bigger market than a lot of the bears out there think. He adds that he still believes the stock can go higher. If you have a stock question, make sure to tweet it @jimcramer using #CramerQ.

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