Stocks fluctuated Friday after the S&P 500 and Nasdaq closed at record highs in the previous session and ahead of a three-day weekend due to Presidents Day Monday.
TheStreet’s Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Bumble, PayPal and markets on Friday.
Bumble: Buy Or Sell?
The stock surged more than 63% to close at $70.31 on Thursday. Its initial public offering was priced Wednesday at $43 a share.
Cramer said Bumble is the quintessential growth stock for young investors because it’s a kinder, gentler app model where women make the first move.
PayPal: Buy Or Sell?
Cramer said PayPal is customer-centric and have the best of the online traditionalist teaching about cryptocurrency. “Their CFO told me because crypto has been so erratic it may not be a correct application for cash management.”
Markets on Friday
Cramer said he is still concerned about the froth in the market. “This time it’s the cannabis pump and dump. That’s all they’re doing. I don’t like that. I’m trying my best to let people know, not to be a part of this pump and dump because people are getting confused. Stocks like Sundial, Aurora, and some of the smaller ones between $300 million and $400 million are very dangerous.”