Jim Cramer on Shake Shack (SHAK): 'Bad News Was Priced In – and Buyers Stepped Up'
We recently published a list of Jim Cramer Rediscovers Love For Magnificent 7 & Discusses These 11 Stocks In this article, we are going to take a look at where Shake Shack Inc. (NYSE:SHAK) stands against other stocks that Jim Cramer discusses.
In his recent appearance on CNBC's Squawk on the Street, Jim Cramer found his love for Magnificent 7 stocks once again. He had grown disillusioned with them after the DeepSeek and tariff turmoil, as in a late April appearance, the CNBC TV host had renamed the stocks. 'Yeah that's gone. Yeah I don't know it's not like the Mag 7. . .no we're done with that, Mag 7, whole thing. Now it's the Wild Bunch. . . we're switching, it's no more, I mean honestly, Wild Bunch was actually a better movie,' he'd said.
This time around, Cramer returned to the Magnificent 7 moniker. 'But let me come back with a new thesis. We found out why we liked the Magnificent 7 last night. They do well when things aren't good. And there's been a lot of periods where things aren't good. Suddenly they do well!' according to him.
Cramer also sarcastically commented on President Trump attributing weak economic growth to President Biden. 'Does he like Joe Biden?' said Cramer. What was interesting was he said yesterday was Biden's market. He caught the opening but he didn't get the close,' he added.
The conversation then shifted to Elon Musk and DOGE. Musk had announced last month that he would spend more time at his car company. Cramer, for his part, wondered why Musk didn't 'go after the Pentagon, Social Security, and Medicare. Why didn't he go, where was the trillion dollars? What happened to the trillion dollars we were going to save?'
With the latest US weekly jobless claims surging to 241,000, Cramer agreed with BofA's assessment, which called them a DC recession due to the Trump administration's layoffs. 'Absolutely. And I think that's right. I'm not hearing anybody, in any of these other companies, [inaudible] listen, we're gonna have to lay people off,' he outlined.
One interesting material that's caught Cramer's attention, which he believes could become a key point between the US and China's trade relations, is ethane. Commenting on the hydrocarbon, he stated:
'[R]emember when, the future's plastics? Right, well, they don't have ethane in China. We have the ethane, they had a tariff on ethane, they took it away . . .yeah but lookout.'
Our Methodology
To make our list of the stocks that Jim Cramer talked about, we listed down the stocks he mentioned during CNBC's Squawk on the Street aired on May 1st.
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