CNBC's Jim Cramer on Wednesday weighed in on Chipotle's stock split, the Chips Act funding for Intel and other market-moving headlines.
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Chipotle : The Mexican-inspired burrito chain announced a 50-for-1 stock split. Shares rose more than 6% after the announcement, to roughly $2,970 each.
"I thought Corie Barry had a terrific quarter. Five percent yield. The stock sells at 13 times earnings. Buy." Intel : The U.S. government awarded the semiconductor firm up to $8.5 billion in grants toward its new manufacturing facilities in the country. The money came from the Biden administration's 2022 Chips Act. "Government has to do a buyback for me to like that stock," Cramer said of Intel, which has been in turnaround mode under CEO Pat Gelsinger in recent years.
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