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Unless Curry Turns it Around, You’ll Want to Be Long Nike: Cramer

July 9, 2023
in Trade Tube
Reading Time: 1 min read
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Jim Cramer answers viewers’ Twitter (TWTR) questions from the floor of the New York Stock Exchange. He weighs in on Sears (SHLD), which he believes has been a short squeeze story for a long time. Cramer says Sears’ comparable store numbers and the company’s revenue declines, both of which he calls ‘hideous,’ are only part of the retailer’s problems. When one viewer notes that the airlines are taking a hit and asks if Delta Air Lines (DAL) can weather the storm, Cramer warns that it can’t just yet. He explains that there are still ten firms that are still very bullish on the airlines, and until that changes, you shouldn’t be. Cramer also talks General Electric (GE), which he believes is a safe holding and could go to $30, although he acknowledges the stock doesn’t seem to get there fast enough for investors who seem to be getting weary with its behavior. Another viewer pits Nike (NKE) and Cleveland Cavaliers’ LeBron James against UnderArmour (UA) and Golden State Warriors’ Stephen Curry in the NBA Finals, asking who stands to be the bigger winner of the sports giants. Cramer says if Curry continues to perform like he did on Sunday night, investors will want to be long Nike. But, if he turns it around and starts to go inside instead of three-pointers, Cramer says you better get long UnderArmour. If you have a stock question, tweet it @jimcramer using #CramerQ.

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