Jim Cramer Cut Tesla From The ‘Magnificent 7’: Here’s His New Name For The Basket Of Mega-Cap Tech Stocks

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Benzinga

CNBC’s Jim Cramer has made the argument that one of the seven popular names included in the so-called “Magnificent Seven” — a group of mega-cap tech stocks — should be removed from the index. What To Know: Cramer was credited with coming up with the “FAANG” acronym that was long used to describe a handful of the most dominant public mega-cap tech companies. As Microsoft Corp (NASDAQ:MSFT) shares surged last year, driven by the artificial intelligence (AI) boom, investors and analysts began testing several other acronyms that would better represent the biggest mega-cap players before the “Magni…

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