Stock Market Today With Jim Cramer: Lululemon 'Is a Juggernaut'

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Stocks wavered Thursday as Wall Street reacted to stronger-than-expected weekly jobless claims and ongoing concerns about the impact of the COVID-19 pandemic.

© TheStreet Stock Market Today With Jim Cramer: Lululemon ‘Is a Juggernaut’

Jim Cramer and TheStreet Senior Portfolio Analyst Jeff Marks talked about the surge in Lululemon and the Delta variant.

Lululemon ‘Is a Juggernaut’

Lululemon shares hit a record on Thursday after the athletic and leisure apparel group blasted second quarter earnings forecasts and boosted its full-year profit outlook.

Cramer said Lululemon is the company that is trumping its 2019 numbers the most.

“Lulu putting up a number that I would’ve expected a couple of years from now. They’re firing on all cylinders whether it be innovation in apparel, whether it be Mirror, or whether it be international expansion. It’s a juggernaut. And there’s a big short position betting that this was a pandemic play,” Cramer said.

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“The pandemic is still with us, we never really went back to the office,” he added.

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LULU “has become the standard of what you should wear and get away with everywhere.”

Accounting for Delta Variant in Decisions

Cramer said investors must have a view on the Covid delta variant when they address the volatility in the markets.

“If you think that delta is a serious impediment to the economy, then you can’t buy an airline,” he said.

“If you think delta is going to slow the economy in a way that the Fed is going to stay on the sidelines, then you can buy shares of a series of companies like [Procter & Gamble] and PepsiCo . That’s what has been going on,” he added.

He also said he thought the delta variant would “wind down” in the U.S., with at least one vaccine dose taken by 75% of U.S. adults.

None of the stocks mentioned above are key holdings in Jim Cramer’s Action Alerts PLUS member club. Want to be alerted before Jim Cramer adds or removes stocks from his portfolio? Learn more now.

This article was originally published by TheStreet.

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