The king of research has a new source of homework assignments. Jim Cramer said he has his eye on on the wallstreetbets Reddit thread, or subreddit, during TheStreet‘s daily live show.
For those scoffing at the idea, Cramer has a simple word of advice. “Do not be a snob,” Cramer said.
Equating his subreddit reading to reading the Wall Street Journal, Cramer said those posting in the thread are moving stocks and when you pass judgement on them, you’re making a decision to not look at potential market movers.
“If they’re running GameStop (GME) – Get Report, do your work on GME,” Cramer said.
“It’s called homework and I’ve added wallstreetbets to my homework,” Cramer added.
In the video below, Cramer talks Moderna, Boeing (BA) – Get Report, Apple (AAPL) – Get Report, Estee Lauder (EL) – Get Report, the FTC, the Federal Reserve and more:
Moderna’s (MRNA) – Get Report COVID-19 vaccine has met the Food & Drug Administration’s emergency use authorization requirements.
Based on the encouraging findings, the agency intends to grant emergency authorization for use of the vaccine on Friday, The New York Times reported, citing people familiar with the FDA’s plans.
The FDA, in a statement Tuesday, said it “considers that the totality of available data are sufficient to support an evaluation of this product for EUA.”
However, this news did come as the United States reported 300,000 deaths from COVID-19.
“It’s a footrace against the actual illness,” Cramer said, referring to the vaccine rollout.
Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Watch Cramer’s exclusive members-only Daily Rundown show on Action Alerts PLUS following TheStreet Live.
Daniel Kuhn contributed reporting to this article.