'We've had a colossal rally. After this kind of run, the bull is fatigued,' the 'Mad Money' host says.
to "neutral" from "overweight" because analysts could not justify its 600% surge.
"The Beyond Meat stock moved up way too far too fast. It needs to cool off," Cramer said. "Again, I'm not saying the company's bad. I'm saying the stock got too hot." Financial technology stocks have rallied "endlessly," the host said, even as payments companies such asVenmo, are still early in development. Cramer thinks that's good reason to buy into the sector, but only on a pullback.
PayPal, however, is up more than 7% over the past month. The share price slipped 0.9% to settle at $114.60 by Tuesday's close. That's after it traded at a new all-time high of $117.45 during the session. "Today, PayPal finally got dinged. I think it's emblematic of the whole financial tech group," Cramer said. "These stocks are taking a much-needed breather."
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