Jim Cramer
Scott Mlyn | CNBC
CNBC’s Jim Cramer said Monday that the moves for three major tech stocks were “really crazy and different than the ones I’ve ever seen.”
Cramer’s comments in a tweet came as shares of Amazon and Microsoft, two of the largest US stocks by market cap, rose 7.4% and 4.3% respectively during the Monday session. Electric vehicle company Tesla also increased 9.3%, continuing a dizzying race that has seen its shares increase 60% since June 29.
The gains helped boost Nasdaq heavy-tech compound 2.5% on Monday.
Amazon’s move represents a stock investment for the e-commerce company and the cloud, which saw its shares sink five days last week. Monday’s jump erased almost all of those losses.
Both Amazon and Microsoft, which fell in four out of five sessions last week, have outperformed the broader market this year, with their subscriptions and cloud businesses proving resilient to the challenges of the coronavirus pandemic.
Tesla has left the two tech giants behind with this year, increasing nearly 300%. Tesla and Microsoft are scheduled to report quarterly earnings results on Wednesday.
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