Cramer's Morning Take: Healthcare Stocks 6/8/23

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 8 June 2023

⏱️ 4 minutes

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Summary

Jim Cramer and Jeff Marks discuss why investors should be buying GE Healthcare. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Transcript

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0:00.0	Jim Kramer here to share with you a sample of my take on the market from today's
0:06.7	CMBC Investing Club Morning Meeting.
0:08.6	You know I feel as the market broadens, it's actually getting more frothy.
0:14.3	Take a look at a Carvana.
0:15.9	If you start seeing a broader market, and I'm just used now as a kind of a rubric, you start
0:20.0	seeing a broader market, a lot of people feel it's good.
0:21.6	It's not in the world that we live in because we follow the oscillator and the oscillator is going to get more overbought.
0:26.6	So I have to tell you that, listen, Jeff, the Larry Williams call to get out of tech and then to get out of the rest of the market is all going to come true.
0:36.6	And I'm just saying that as we get overbought, I want our people more careful.
0:41.3	Sure, yeah.
0:42.4	We do see the oscillator starting to rise up, creep up as the market rotation takes hold.
0:48.8	A little bit of reverting back to the old ways today with the NASDAQ leading some big tech names leading the market today.
0:55.9	But overall, right, Amazon's a big one. A couple of AMD is another one that's up today.
1:01.6	And we can talk a little bit about what's happening there in a little bit.
1:05.0	I know right now, big focus right now is the pullback in GE healthcare technologies today. Let's talk about that.
1:11.7	They priced the secondary at 78. About a 3% discount from yesterday's close. I want to urge
1:17.7	people. I usually don't do this. Yours. If we had not mentioned it, we would be in there buying it
1:24.4	very aggressively. Why? Because we just got news again about Biogen and a Japanese company.
1:31.3	The FDA is going to green light the drugs for Alzheimer's.
1:35.7	But you must have a GEMRI or a Zeman's in order to be able to get it.
1:42.1	People do not understand that that's going to be the lynchpin. It's going to be the pick and shovel of this. You're getting this chance because of the secondary, which is not new stock. Right. Not dilutive to shareholders. So I'm telling people, and I don't do this usually in the morning meeting. I want you to buy it, okay? If you don't know anything, and again,
2:00.9	we would be buyers if we were allowed, but I did mention it. Right, broke below our basis.
	...

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