CNBC’s Cramer Says Moves In Tech Stocks Are ‘Truly Insane’
Jim Cramer from CNBC said on Monday that “the moves of three major tech stocks were ‘truly insane and unlike any i have ever seen in my life.’”
“Cramer’s comments in a tweet came as shares of Amazon and Microsoft, two of the largest U.S. stocks by market cap, jumped by 7.9% and 4.3% respectively during Monday’s session,” reported CNBC. “Electric vehicle company Tesla also surged 9.5%, continuing a blistering run that has seen its shares rise 60% since June 29.”
CNBC wrote that the gains “helped to push the tech-heavy Nasdaq Composite up 2.5% on Monday.” Both Amazon and Microsoft, “which fell in four of five sessions last week, have outpaced the broader market this year, with their subscription and cloud businesses proving to be resistant to the challenges of the coronavirus pandemic.”
“Tesla has left both of those tech giants behind with [its] run this year, rising nearly 300%. Tesla and Microsoft are scheduled to report quarterly earnings results on Wednesday,” the report added.