Jim Cramer: Investors can 'learn a lot' from first-quarter winners and losers
CNBC's Jim Cramer on Wednesday separated the wheat from the chaff in the market and opined on the best- and worst-performing stocks through the first quarter of 2020.

"You can learn a lot about a market by looking at its winners and losers," the "Mad Money" host said one day after the market ended its worst first-quarter output in history.

Since advancing about 5% from the start of the year to the Feb. 19 close of 3,386.15, the S&P 500 within four weeks fell more than 1,190 points — deep in a bear market. On Tuesday the index ended a volatile three-month period down almost 20%, near January 2019 levels.

Investors were reacting to news that the fast-spreading coronavirus had reached U.S. shores and of its potential impact on the global economy.

"In the end, I think the winners from the first quarter keep winning as long as the pandemic rages, and the losers [will] keep losing," Cramer said.

Below are his comments on the top- and bottom-performing stocks of the quarter: