Walmart. I put the story that Walmart will jettison Jet.com in the second category. It had nothing to do with the Wuhan flu.
Amazon - JC Penney. I put the Amazon - JC Penney story in the first category. JC Penney might have declared bankruptcy regardless, but with the lock down, it hastened the decision. And now Amazon could get a twofer: a company with a strong logistics legacy as well as some really, really good real estate, with some "okay" real property. Will close 154 stores in 2020. To close 242 stores, 29% of entire inventory in all.
Cramer, June 4, 2020:
- The coronavirus pandemic has produced “one of the greatest wealth transfers in history,” CNBC’s Jim Cramer said.
- “The bigger the business, the more it moves the major averages, and that matters because this is the first recession where big business … is coming through virtually unscathed,” the “Mad Money” host said.
- “I think we’re looking at a V-shaped recovery in the stock market, and that has almost nothing to do with a V-shaped recovery in the economy,” he said.