CNBC’s Jim Cramer on Thursday suggested that investors should look for buying opportunities amid stocks that are being hit by the stock market turmoil.
“You could argue that for many groups, this bear market is simply to address the outperformance of the past two years. … However, for some stocks, the sell-off has even occurred. worse than that,”Crazy money” said the presenter.
“The hardest hit names are currently trading below where they were at the start of the pandemic – in some cases, below all. These are what I call payback stories. , and while some of them are dangerous, I admit, others represent incredible buying opportunities here,” he added.
The market has seen over the past several months as Russia invades Ukraine, soaring inflation, Federal Reserve rate hikes and the Covid shutdown in China have shaken Wall Street and sent markets down. .
Cramer told investors that instead of bottom-fishing the worst performing stocks, they should chase stocks that are falling but still have consistent stories that prove they are resilient.
To come up with his list, Cramer focused on a total of 10 of the biggest giveaways by market capitalization as of Wednesday’s market close. He then narrowed the list down to five names that he believed could be great additions to investors’ portfolios.
Here is his list:
“I like Meta Platforms, some banks, Cisco and Disney.… Others? Not my cup of tea yet,” he said.
Disclosure: Cramer’s Charity Trust owns shares of Cisco, Disney, Meta Platforms, and Wells Fargo.
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