A rare downgrade of a portfolio stock that’s consistently beaten the market is way off base
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. 1. The S & P 500 started the new week building on Friday’s record high. The Dow also reached new highs in Monday morning trading. The Nasdaq was higher Monday but still about 4.5% away from its record closing of 16,057.44 on Nov. 19, 2021. Lower bond yields Monday helped support what Jim Cramer called a “total bullish move” on stocks. He questioned whether the market will broaden out from tech. He said it needs to. 2. In his weekly column , Jim booted Tesla out of the Magnificent Seven and reclassified the dominant mega-cap tech stocks as the Super Six. We own them all: Google-parent Alphabet , Amazon , Apple , Meta Platforms , Microsoft and Nvidia . Pondering Tesla’s exclusion, Jim said he thinks drugmaker Eli Lilly is a better fit in such rarified air than the electric vehicle giant. Lilly was the Club’s best-performing stock since the S & P 500’s old January 2022 record. 3. Linde got a rare downgrade. Stifel took the industrial gas and engineering giant to hold from buy. The analysts said Club name Linde has less room to increase prices because inflation pressures are easing. Jim took issue with that statement — saying the demand for Linde’s products across industries is strong, and he sees no reason to believe the company’s history of being able to raise prices will abate if the need arises in the future. Over the past five years, Linde shares nearly doubled the S & P 500’s gains of 82%. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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