CNBC Television/YouTube The stock market has brushed off a lot of bad news because public companies are poised to thrive as the pandemic threat recedes, "Mad Money" host Jim Cramer said on his Thursday show. "This is the first recession where big business … is coming through virtually unscathed, if not going for the gold," he said. However, small businesses are "dropping like flies," leading Cramer to describe the pandemic as "one of the greatest wealth transfers in history." Large retailers and restaurants can more easily follow public-health measures such as social distancing and requiring customers to wear masks than their smaller rivals, Cramer added. Visit Business Insider's homepage for more stories. The stock market has shrugged off an economic slowdown, historic unemployment, mass protests, and more than 100,000 coronavirus-linked deaths to regain most of the ground it lost earlier this year. Its swift recovery reflects the fact that the largest public companies — which drive the indexes — are emerging from the pandemic in strong shape, CNBC "Mad Money" host Jim Cramer said during his Thursday show.See the rest of the story at Business InsiderNOW WATCH: Pathologists debunk 13 coronavirus mythsSee Also:Up to 6 million white-collar workers could lose their jobs in another wave of cuts as coronavirus fallout spreads to other parts of the economyA $40 billion wealth-management firm says the US economy is only 19% recovered from the pandemic — and lays out a winning investing strategy in the wake of a massive stock-market rallyGOLDMAN SACHS: Buy these 15 stocks for powerful profit growth after a historic rally leaves the market with little room for error
'one Of The Greatest Wealth Transfers In History': Stocks Have Rebounded Because The Pandemic Is Sparing Big Companies, Jim Cram
tmohamed@businessinsider.com (Theron Mohamed), Business Insider
Fri, 06/05/2020 - 4:29am
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