Jim Cramer’s daily rapid-fire look at stocks in the news outside the CNBC Investing Club portfolio. Intuit: TurboTax and Credit Karma announced about 10% of their staff cuts. “I think [CEO Sasan Goodarzi] “They’re going to use AI to be able to leverage things and streamline their workforce,” Jim Cramer said Wednesday. “But people don’t buy that at all.” “People think there’s real weakness. I don’t see that.” Chipotle: Longtime CFO Jack Hartung is set to retire next year. He will be replaced by company veteran Adam Riemer.[Hartung] He was my “true north” during the terrible airborne illness situation of 2015. He was a steady hand when I called him every day. [back then]“ , Cramer said. Chipotle has been weaker since the 50-for-1 stock split. Cramer said that was due to questions about the small size of the portions. CEO Brian Nichol told Cramer that wasn’t the case. 3M: CFO Munish Batulawala is leaving for Archer-Daniels Midland. “This is what’s happening,” Cramer added to his team. Carvana: Needham upgraded the stock to buy. Cramer said CEO Ernie Garcia “pulled the rabbit out of the hat.” “The used car market is on fire because used care prices have dropped to the point where it makes a lot of sense to go shopping,” Cramer said. “This is a classic case of when you sell these stocks … you end up regretting it,” Cramer said. “These guys have the biggest margins in the world. They don’t have credit risk. That’s why people love them. I don’t think you’d downgrade these stocks in a downturn where you might have credit risk.”
Cramer says Carvana is pulling a ‘rabbit out of the hat,’ criticizes Mastercard, Visa downgrades
