Treasury yields are rising Thursday, sending Nasdaq futures down over 200 points premarket. Check out the five things you must know in the markets Thursday including AMC Theatres (AMC) – Get Report reopening, Sundial Growers (SNDL) – Get Report, Lordstown Motors (RIDE) – Get Report, and earnings on the calendar.
Premarket movers Thursday include Williams Sonoma (WSM) – Get Report, Five Below (FIVE) – Get Report, Dollar General (DG) – Get Report and more.
In the last episode of Mad Money, Jim Cramer said there are many more important things to worry about right now than inflation.
TheStreet’s Katherine Ross and Cramer are talking about Coinbase’s plans for a direct listing, Shake Shack’s deal with Uber Eats and NFTs.
Coinbase
Cryptocurrency brokerage Coinbase on Wednesday submitted plans to sell 114.9 million shares in a direct-listing initial public offering that could value the company at more than $100 billion.
Cramer said it depends on the day [of the listing], it might be a good opportunity. “I find direct listings fascinating because they can really produce some bargains for the buyers. Stay close to that one. It may be a good one.”
Shake Shack and Uber Eats
American fast-food chain Shake Shack (SHAK) – Get Report on Wednesday partnered with Uber Eats (UBER) – Get Report to launch its own nationwide in-app delivery service.
Cramer said some food travels and some food doesn’t. “Shake Shack is great, it’s delicious and juicy. Maybe [the deal] it’s incremental for them but I wouldn’t risk it. Unless it’s made on the spot. Which it doesn’t seem like it is.”
NFTs
Non-fungible tokens (NFTs), are cryptographic tokens similar to Bitcoin or Ethereum. Unlike those cryptocurrencies, NFT can be digital art, experience, collectible, and many other things.
With NFTs, each asset is completely unique for each owner, and the NFTs are not interchangeable.
Cramer said if there is trading scarcity you might want to use NFTs.
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