Wednesday, August 21, 2024

Cramer's First Hour -- August 21, 2024

Locator: 48474CRAMER.

Cramer's first hour: a mix of fact, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC

Cramer's first hour: all about Target this morning.

Target: never expected this today. Stressed consumers don't shop at Target. They shop at Dollar General and Walmart, but here we are -- link here --

Ticker:

Walmart: best Dow stock of the year.

MOJO, Carl reiterated on air:

F:

  • shifting strategy --
    • Ford lost an average of $44,000 on each EV sold in the second quarter
    • will cancel plans for electric three-row SUV
    • will delay new EV plant in Tennessess
    • will take a $400 million write-off
    • still a huge warranty problem
    • Phil LeBeau put a positive spin on this, and investors like the news, but overall it seems to be a troubling report
    • ticker F: up 1.4% today; trending toward $11.

  • Ford says it won't bring a car to market if it can't be profitable within 12 months
  • this is mid-2024
  • it's gonna be:
  • two years for commercial EV van production (target: Rivian)
  • three years for EV pickup / truck
  • a lot of cash to Tesla to cover regulatory credit costs

Usual disclaimers apply.

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