You greedy pigs.
How in the world is Netflix worth 78x forward earnings at the same time as it's seeing rising content costs and lofty outlays to lay its infrastructure overseas? It's not, guys!
Tesla (TSLA) at a market cap of more than $60 billion? Elon Musk's creation is running the risk of badly missing its Model 3 production goals, and there is no clear indication when it will turn sustainably profitable. Tesla deserves to correct at least 20%.
It has been madness out there on Wall Street, and it's good to see a sense of rational thinking starting to return. Unfortunately for investors, the reemergence of rational thinking will likely mean stocks remain under pressure near-term.
But hey, at least the bulls can hang their hats on one thing. Breadth in the stock market isn't that bad on Monday, with 16 of 24 S&P 500 sectors opening in the green.
What's Smoking Hot on TheStreet
Apple and all of tech remains in focus: European tech shares such as SAP (SAP) , Infineon Technologies (IFNNY) and ASML (ASML) fell sharply on Monday after last week's late Nasdaq rout. Not helping matters was a rare downgrade on Apple (AAPL) on Sunday on fears the stock may be too richly valued.
Walmart is under siege from a German rival: Aldi is coming after Walmart's (WMT) grocery market share, as the German discount retailer says it will invest $3.4 billion to expand its U.S. presence. The privately-held German grocery store said it plans to increase its store base to 2,500 by 2022. Aldi currently operates 1,600 U.S. stores.
GE's CEO is stepping aside: Industrial conglomerate General Electric (GE) said Jeffrey Immelt, chairman and CEO, plans to step down. Immelt has been with GE since 1982 and has served as chairman and CEO since September 2001. John Flannery, the current president and CEO of GE Healthcare, was named chairman and CEO. He will become CEO effective Aug. 1, and also take over the chairman role effective Jan. 1, 2018, a day after Immelt officially retires.
TheStreet reported last week that General Electric may sell additional businesses as investor Trian Partners pressured Immelt to meet aggressive performance targets.
Amazon as a car dealer: Why doesn't news of Amazon (AMZN) exploring selling cars in Europe come as a surprise. It really shouldn't. Jeff Bezos wants to upend almost every single industry known to man.
Apple, General Electric, Facebook and Alphabet are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL, GE, FB and GOOGL? Learn more now .
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