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Cramer shares his views on the recent Federal Court ruling against the FTC on Facebook’s power consolidation in the social media space. Besides, he’s bullish on small businesses to support the economic recovery in the US.
On Wednesday, June 30, Jim Cramer, the host of CNBC’s Mad Money show spoke about his bullish views on small businesses and the FTC activities. Cramer also explained how small businesses are helping to fuel the economic recovery for the US.
Cramer noted that most of the companies in the small business sectors aren’t publicly listed. However, some companies listed on exchanges are worth keeping an eye on. Cramer said:
“The business of America is small business, and right now it is booming. You might not be able to bet on these little firms directly, but you can invest in the publicly traded companies that empower them. That’s been an incredible strategy and it’s one I think you can bet on in the second half of 2021″.
Cramer also suggested some good stocks having exposure to the small business economy. He suggested stocks like Etsy, Shopify, Square, Wix, Adobe, etc.
On the other hand, Cramer also commented that the government shouldn’t be the reason to sell Facebook Inc (NASDAQ: FB). The FB stock has come under pressure with the Federal Trade Commission (FTC) accusing the tech giant of monopolizing social media space.
Cramer Shares His Opinion of the FTC Actions
Referring to the Federal Court ruling against the FTC as a complete “beatdown”, Cramer praised Federal Court Judge James Boasberg for his decision. Besides, Cramer refers to the FTC as “a Trump FTC” and criticizes it for targeting the social media giant.
Cramer praises Boasberg for laying out the case with a strong roadmap having a different outcome. At the same time, the CNBC analyst is optimistic about the new 32-year-old FTC head Lina Khan. Cramer believes that Khan will pursue Bitcoin in a different and more “thoughtful way”. He added:
“In fact I think that this case shows you how any government attempt to contain big tech might fail. I am surprised that their stocks aren’t all running because, unlike Congress, the bench is interested in real facts, not grandstanding, and the real facts don’t amount to abuse of monopoly, even if you agree that Facebook is a monopoly to begin with, something that’s easily disputable when you consider Twitter (TWTR) , TikTok and Snap (SNAP) “.
Drawing an inference from the Federal Court ruling, Cramer notes that we need more than just the reason of power consolidation to stop the big tech. As the news broke out on Monday, June 28, the FB stock shot 13 points. However, it came under pressure on Tuesday’s trading session losing all the previous day’s gains.
In his concluding noted Cramer notes that the government “is NOT a reason to sell these stocks. Sales and earnings are. And all of them have the metrics in spades”.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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