Stocks turned lower Thursday as energy shares declined along with the price of oil.
TheStreet’s Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Bumble’s trading debut, Uber’s earnings and Boeing.
Bumble: Buy Or Sell?
The stock opened at $76 a share. Its initial public offering was priced Wednesday at $43 a share.
Cramer said Bumble is a well-run company and a safe place in the app ecosystem. “It’s a revolutionary app that is a gentle entrant into this business. This is part of a larger theme. Pinterest is safe, Twitter is getting safer. There is a rebellion going on about going after hedge funds and there is also a rebellion going on about going after hate. And hate is on the run right now.”
Uber: Buy Or Sell?
Uber said delivery business bookings more than doubled (up 130%) to $10.05 billion. However, mobility gross bookings were 43% lower in January.
Cramer said Uber has consolidated the delivery industry to the point where they can charge an arm and a leg to get the product to you. “But the real business let’s not forget is mobility. And you need to have driverless cars to make that model really work.”