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Everything Jim Cramer said about the stock market on 'Mad Money,' including practice patience, streaming stocks, Zoom Video CEO

CNBC’s Jim Cramer said investors should not be too quick to jump back in the market after Friday’s coronavirus-induced sell-off. The “Mad Money” host explained why there’s no money to be made in oil and gas stocks. Later in the show, he sat down with Zoom Video Communications CEO Eric Yuan to get a read on how companies ordering their employees to work from home is creating more business for the videoconferencing company.

Practice patience

Kübra Yilmaz and Canan Emcan, nurses of the infection ward of the university hospital, in protective clothing and behind a breathing mask, look at two smear tubes and the corresponding virology certificate. In Essen, the city and university hospital feel well prepared for patients infected with the novel coronavirus.

Bernd Thissen | Getty Images

CNBC’s on Monday said he is anticipating another market sell-off and that investors should refrain from putting more money to work in stocks.

The major averages managed to rebound during the session after Friday’s drop, where the tanked more than 600 points on heightened fears of the coronavirus’ spread worldwide. Friday’s sell-off wiped out the index’s gains from the start of the year.

“I don’t want you to jump the gun, people. Let’s wait for a real dip, the kind we haven’t had yet, before we get more bullish on this market,” the “Mad Money” host said. “I’m betting that another shoe will drop on this coronavirus outbreak, and I think it might be a mistake to buy before that happens.”

Oil and gas drying up?

A worker on a an oil drill near New Town, North Dakota.

Daniel Acker | Bloomberg | Getty Images

Cramer said his negativity toward oil stocks is not about environmentalism but economics.

“I am not here, though, to take political stands. My job is to help you try to make money,” the host said.

“And the honest truth is I don’t think I can help you make money in the oil and gas stocks anymore,” he added.

Cramer’s comments followed , when he compared fossil fuel stocks to tobacco companies.

“I’m done with fossil fuels … they’re just done,” he said then. “You’re seeing divestiture by a lot of different funds. It’s going to be a parade. It’s going to be a parade that says, ‘Look, these are tobacco and we’re not going to own them.'”

Streaming plays

Jeff Green, CEO of The Trade Desk

Scott Mlyn | CNBC

Cramer called a “more enticing” play on the growing video streaming arena than .

“Roku and The Trade Desk are both high-flying momentum stocks that benefited enormously from cord-cutting, but because Roku’s more consumer facing, people reflexively buy this one as the true cord-cutting play,” the host said. “And, at this point, I much prefer the less well-known Trade Desk, which has better financials and I think is a better story.”

Coronavirus’ impact on work

Eric Yuan, CEO of Zoom Video Communications poses for a photo after he took part in a bell ringing ceremony at the NASDAQ MarketSite in New York, April 18, 2019.

Carlo Allegri | Reuters

CEO Eric Yuan told CNBC his phone was off the hook on Monday as the company’s stock popped double digits.

Shares of the cloud-based video conferencing and collaboration provider surged nearly 15% during the trading day as the coronavirus outbreak continued to impact U.S. business operations in and travel to China, forcing affected employees to work remotely. It was the biggest one-day gain for the stock since June, according to FactSet.

“I had to shut down my phone, because, actually, almost everyone is calling us,” given the coronavirus, Yuan said in an interview with Cramer.

Cramer’s lightning round

In Cramer’s lightning round, the “Mad Money” host ran through his thoughts about callers’ favorite stock picks of the day.

: “I happen to like Micron. I think that it could still go down a little bit” on coronavirus fears. “I would buy some more at $49, but I’d hold on to what you have.”

: “I think you got a good one. It’s one of the few battery suggestions I am ever going to tell you to buy, but remember because you’re younger it is speculative and it’s up a great deal, but it does have a sound concept.”

: “Wingstop’s a winner. I’ve liked it for a very long time.”

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Source: Business - cnbc.com

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