CNBC's Jim Cramer on Wednesday suggested the market has renewed interest in smaller cap stocks, expanding outside the "Magnificent Seven" tech stocks that have reigned supreme over the past several months.
Larger companies are now looking to buy smaller ones with inexpensive shares, and activist investors are pushing enterprises to improve, Cramer said.
Cramer also named activist investor Elliott Management, which he said is working to revive stocks like Crown Castle and Phillips 66 .
But even though investors have renewed interest in different sectors, Cramer said that does not mean they are moving on completely from the Magnificent Seven or other tech outfits.
Tells you everything you need to know about this suddenly glorious stock market."
Persons:
CNBC's Jim Cramer, we've, Cramer, Blackstone, Wednesday's, Elliott, SPAC
Organizations:
Federal Reserve, Rover, Elliott Management, Phillips