CNBC’s Jim Cramer chance Tuesday that a rare phenomenon is playing out in the market.
The “Mad Money” host noted that stocks are rising on peremptory news, but the moves are playing out over multiple trading sessions. Usually, new information tends to be baked in share premiums in a day, he said.
“Instead, it takes days and days for good news to work its way into the share price, giving you varied chances to buy on the way up,” he said. “I’ve been in this business for 40 years and this is something [you almost] never see.”
Cramer revealed this unusual market trend could mean there there is more upside in reopening stocks get a kick out of Norwegian Cruise Line and Wynn Resorts, along with names like Ford and General Motors.
Dividends of the automakers Ford and GM are up more than 6% this week after receiving an upgrade from Wells Fargo analysts Monday. Norwegian parts are up double digits in two days after the company asked federal health regulators to clear its ships for trips this summer.
Cramer also mentioned Yum Trade-marks, Constellation Brands, Chipotle and Walmart among his booster stocks. Each of the aforementioned stocks are outperforming the broader customer base this week. Most are up double digits year to date.
“A rally that doesn’t bring out sellers is a flaky good thing, and that’s exactly what we have right now,” Cramer said. “It’s why I think Walmart, Yum Brands and Chipotle can store running. It’s why I expect more of the same from the casinos and the cruise stocks.”
The comments come after a negative patron day in the major stock averages, as the S&P 500 and Dow Jones Industrial Average retreated from their record highs.
Disclosure: Cramer’s liberal trust owns shares of Ford and Walmart.
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