We recently compiled a list of the Jim Cramer Shed Light on These 8 Stocks Recently. In this article, we are going to take a look at where AbbVie Inc. (NYSE:ABBV) stands against the other stocks.
Jim Cramer, the host of Mad Money, on Tuesday, took a close look at President Donald Trump’s recent actions and his effect on the stock market, urging investors to pay closer attention to his moves.
“Look, people on Wall Street, you better start taking the President of the United States more seriously or else you’re gonna keep losing money. Look, you don’t have to like him, but I’m begging you, listen to his words.”
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Cramer pointed to last Friday, when President Trump announced significant tariffs on Canada and Mexico, 25% while only imposing a 10% tariff on China. The decision left many on Wall Street shaken, especially since Trump’s actions have been anything but superficial. Cramer explained that the president’s moves are not idle threats.
“Of course, it’s not just tariffs. Yesterday the president said we’re gonna have a sovereign wealth fund like the Saudis. I heard a lot of snickering about that one, a lot of disparagement, a lot of laughs. “
He questioned why Wall Street seemed to dismiss the idea outright. He pointed out that, despite widespread criticism of many of Trump’s cabinet choices, Senate Republicans have consistently backed him. “They’re scared to death of the guy,” Cramer observed. According to Cramer, whether or not one likes Trump is irrelevant, the fact remains that Congress and the courts are unlikely to stop him, except in cases where his actions are blatantly unconstitutional. Therefore, he argued, the creation of a sovereign wealth fund is likely to be successful.
“Now, I know that the president said on Friday that he doesn’t care what the stock market says about his tariffs, but that’s not because he’s oblivious to the market like his predecessor was. It’s because the sellers don’t get the plan. They’re the oblivious ones. They don’t get that he’s trying to do something that will ultimately end up being really good for the stock market and that’s how the stock market could rally today. That’s how it could recover yesterday.”
Our Methodology
For this article, we compiled a list of 8 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on February 4. We listed the stocks in ascending order of their hedge fund sentiment as of the third quarter, which was taken from Insider Monkey’s database of 900 hedge funds.
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