Post-Superbowl Mondays are always a little tough, especially after watching one team demolish the other.
But hey, at least this proves that Tom Brady is the GOAT when it comes to football.
Alright, let’s focus back on the markets.
Stocks pointed toward further gains heading into intraday trading Monday. During his daily show with TheStreet Live, Jim Cramer said he expects further enthusiasm to pump into Wall Street as the economy reopens.
“There’s no reason for the market to go down necessarily,” Cramer said, adding that he plans to take advantage of the momentum.
“…We invested an aggregate $1.5 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term,” the company said in the filing.
“In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,” Tesla said.
“As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future,” the company added in the filing. “Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.”
Cramer said Tesla once again may just be ahead of the game and “absolutely” made the right decision in buying bitcoin.
“I’ve always felt companies should do more with their cash than keeping it in short-term,” Cramer said.
And then Jim Cramer–or Jimmy Chill–penned an ever-poignant column on how regulators need to fix the market technology issues.
“So, if it is so darned positive to get so many people in [the market], then why have we gotten so off course so quickly? How did it get to the point where Robinhood has gone from the liberator to someone perceived in the Twitter-sphere often as the oppressor?” Cramer wrote. “Simple: the system that allows you to buy something and get it into your account or sell something and get it out is antiquated. It actually resembles more of a checking account clearing operation than a modern day credit card business, to use a system we trust.”
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.
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