Dow futures are mixed Wednesday morning as the Nasdaq is down over 1% in premarket trading. Markets could be reacting to the Democrats likely taking back the Senate and making Mitch McConnell the Senate Minority Leader. The Cannabis sector is also rising in response to the news.
In the last episode of Mad Money, Jim Cramer said some stocks that are flying high now will just fizzle after the pandemic, but others have staying power and will benefit from a return to normal.
TheStreet’s Katherine Ross and Cramer are on Street Lightning talking about new variants of the coronavirus, Bitcoin and the upcoming Action Alerts Plus call.
A new variant of the coronavirus that has been identified in South Africa is more of a risk than the mutation found in the U.K., according to Britain’s health minister.
Cramer said we have no control over the virus except for the vaccine. “Without the vaccine, we have to face facts. Which is that the new strain could lead to a lockdown, the way it did in the U.K. and that’s another reason for people to sell stocks.”
Bitcoin: Buy Or Sell?
JPMorgan on Tuesday said Bitcoin could rally as high as $146,000 in the long term as it competes with gold as an “alternative” currency.
Cramer said “When you have Bitcoin which is totally scarce, in an era where people fear inflation and they don’t believe in government bonds or governments in general then this Bitcoin certainly has a lure. The more people who give it a higher price the more likely it is there will be more people coming in.”
Action Alerts Plus Call Is Today
TheStreet founder Jim Cramer and his Action Alerts PLUS team will hold their January members-only call at 11:30 a.m. ET on Wednesday. You can join before the call here.
Cramer said he will focus on what it takes to be a patient investor. “What it takes to do all the work and then stick with it despite the action in the stock. Hard examples of what I did right and what I did wrong.”
None of these stocks are key holdings in Jim Cramer’s Action Alerts PLUS charitable trust. Want to be alerted before Jim Cramer buys or sells any stock? Learn more from Cramer and his membership team now.