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Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Reddit: The social media firm plans to raise up to $748 million through its upcoming initial public offering, Bloomberg News reported. Reddit is seeking a valuation of $6.4 billion. “I think Reddit, if they place the deal correctly with Redditors, will go higher,” Jim Cramer said, noting Morgan Stanley is one of the investment banks working on the deal. Cramer’s Charitable Trust, the portfolio used by the CNBC Investing Club, owns Morgan Stanley. Bitcoin : The cryptocurrency hit a new all-time high Monday above $72,000 a coin, continuing its recent run coinciding with the launch of bitcoin exchanged-traded funds in the U.S. Cramer said he doesn’t see a lot of “natural sellers here” for bitcoin. As a result, he said, “I think it can continue to go up,” adding that bitcoin is increasingly being viewed as investment to buy and “put away.” He added, “It’s no longer a currency.” Boeing : The Department of Justice has opened a criminal investigation into the company around the Alaska Airlines door-panel blowout, The Wall Street Journal reported over the weekend . Shares of Boeing fell more than 3% Monday. “When you open a criminal investigation, typically what they’re trying to do is separate the CEO from the company, and get the CEO to have his own counsel. That’s what we’re looking for to happen here,” Cramer said. Netflix : Analysts at Oppenheimer raised their price target on the streaming giant to $725 a share from $615, citing the potential for subscriber growth in the coming years to far exceed Wall Street expectations due to its crackdown on password sharing and the introduction of a cheaper, ad-supported option. “It’s really amazing that Disney has not been able to get any of the Netflix love,” Cramer said, noting he continues to support activist Nelson Peltz’s push for a board seat Disney. The Club owns Disney. EQT Corp. : The Pittsburgh-based natural gas producer announced an all-stock deal to buy Mountain Valley Pipeline owner Equitrans Midstream for $5.5 billion. In discussing the deal, Cramer shined a spotlight on Coterra Energy, an oil-and-gas firm in the Club’s portfolio. “I think Coterra is a stock that can go to $35 [per share] without an issue,” Cramer said. Shares of Coterra fell about 0.6% Monday, to a little over $26 each.
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