Cramer's Morning Take: Healthcare Stocks 6/8/23

SPEAKER_1 (0:00)

Okay, text from the wedding planner. She's talking about a cake pop mural.

Jeff Marks (0:05)

Ah, exciting.

SPEAKER_1 (0:07)

Ooh, it's $8,000. Oh, I don't know, we're trying to save for a house.

SPEAKER_3 (0:12)

Well, you only get married once, or twice.

Jim Cramer (0:15)

The three time stops.

SPEAKER_3 (0:16)

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Jim Cramer (0:33)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting.

You know I feel that as the market broadens, it's actually getting more frothy. Take a look at a Carvana. If you start seeing a broader market, and I'm just using that as a kind of a rubric, if you start seeing a broader market, a lot of people feel it's good. It's not in the world that we live in because we follow the oscillator, and the oscillator is going to get more overbought. So I have to tell you that, listen Jeff, the Larry Williams call to get out of tech and then to get out of the rest of the market is all going to come true. And I'm just saying that as we get overbought, I want our people to be more careful.

Jeff Marks (1:12)

Sure, yeah, we do see the oscillator starting to rise up, creep up as the market rotation takes hold. A little bit of reverting back to the old ways today with the NASDAQ leading, some big tech names leading the market today. But overall, Amazon's a big one. A couple of AMDs, another one that's up today. And we can talk a little bit about what's happening there in a little bit.

I know right now, big focus right now is the pullback in GE Healthcare technology today. They priced the secondary at 78

About a 3% discount from yesterday's close.

Jim Cramer (1:48)

I want to urge people, I usually don't do this.

Viewers, if we had not mentioned it, we would be in there buying it very aggressively.

Why? Because we just got news again about Biogen and a Japanese company. The FDA is going to green light the drugs for Alzheimer's. But you must have a GEMRI or a Zemens in order to be able to get it. People do not understand that that's going to be the linchpin. It's going to be the pick and shovel of this. You're getting this chance because of the secondary, which is not new stock.

Jeff Marks (2:23)

Right, not dilutive to shareholders.

Jim Cramer (2:24)

I'm telling people, and I don't do this usually in a morning meeting, I want you to buy it, okay? If you don't own any, and again, we would be buyers if we were allowed, but I did mention it.

Jeff Marks (2:35)

Right, broke below our basis. That's what we've been waiting for very patiently.

Jim Cramer (2:38)

It's killing me that we can't buy it.

Jeff Marks (2:41)

And just by the way, so Biogen's drug, Lechembi, so that currently requires one MRI scan just to get a baseline read and three additional scans in the first year of taking the drug, people are gonna need regular scans needed over time.

Jim Cramer (2:55)

So it's gonna be a lot.

Jeff Marks (2:56)

And there's not enough MRI machines out there to support the launch, so could be a nice tailwind for that business. By the way, Biogen getting approval for its drug and the CMS covering it, also good for Eli Lilly, which I think has to be mentioned in the same breath as well.

Jim Cramer (3:12)

In one competition, they're gonna get it.

Join the CNBC Investing Club with Jim Cramer to catch my member exclusive morning minis every day at 10, 20 a.m. Visit cnbc.com/morningtake to become a member today. That's one word, morning take.

SPEAKER_1 (3:34)

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