Baxter, a medical supplies company, was removed because of its high exposure to voluntary surgeries delayed by the impact of the health crisis on hospitals. GlaxoSmithKline, a drug company that's working on a Covid-19 vaccine, was taken off because the stock is "not enticing many investors," Cramer said. Kellogg, the cereal producing giant, was axed because the stock is lagging and the Cramer index already contains seven other similar plays.
As for the new additions, Cramer added VMware, one of his cloud king stocks, because the stock is "cheap on an earnings basis" and the prospect that the company could be spun off from Dell. Fastly, a cloud content delivery network whose stock price has increased sevenfold since bottoming in March, is one that in hindsight Cramer wishes he included when he created the index in April.
Cramer looks like he's grown some hair and going tieless
Cram me daddy