CNBC’s Jim Cramer said on Friday that staying long in the current market is a game of waiting for a rally – and investors need to be prepared for when that happens.
“Your portfolio should be divided into some cash and some stocks that can thrive in a downturn. … You need to accept the fact that we’re simply trying to stay afloat. keep the game until the times get better,”Crazy money” said the presenter.
“But when we get to the promised land, it’ll be worth it, because that’s when the stock bounces back,” he added.
The market ended a tough trading week on Friday. While the market rallies the following Wednesday afternoon Federal ReserveDeciding to raise interest rates by 50 basis points, losses on Thursday and Friday destroyed those gains. The basis point is equal to 0.01%.
Cramer said he will follow the April consumer price index release next week. “If we get a weaker CPI figure, the market could recover,” he said.
He also previewed next week’s earnings report. All earnings and revenue estimates are provided by FactSet.
Monday: Tyson Foods, BioNTech
- Q2 2022 earnings released before the alarm bells; conference call at 9 a.m. ET
- Forward EPS: $1.89
- Expected revenue: $12.84 billion
Cramer said he is hoping for any news that food prices are falling.
- Q1 2022 earnings released before the alarm bells; conference call at 8 a.m. ET
- Forward EPS: $9.65
- Expected revenue: 4.57 billion USD
It would be helpful to have a clear understanding of any developments related to China’s Covid-19 vaccination plan, says Cramer.
Tuesday: Peloton, Roblox, RealReal
- Q3 2022 earnings released before the alarm bells; conference call at 8:30 a.m. ET
- Expected loss: 84 cents/share
- Expected revenue: 969 million USD
“I bet we’ll end up seeing some sort of TV series like ‘WeCrashed’ about Peloton – if not ‘The Dropout’ – and I wonder who will write the script first,” said the host. ‘The Mad Money’ said, referring to TV series detailing scandals at We work and Theranos, respectively.
- Announce Q1 2022 earnings after closing; conference call on Wednesdays at 8:30 a.m. ET
- Expected loss: 23 cents/share
- Expected revenue: 659 million USD
“Great company, bad stock. … We keep it in the fine box that everything [metaverse] Cramer said.
- Announce Q1 2022 earnings after closing; conference call at 5 p.m. ET
- Expected loss: 54 cents/share
- Expected revenue: $136 million
Cramer said he doesn’t understand why the stock has dropped in price.
Wednesday: Wendy’s, Rivian
- Q1 2022 before the bell; conference call at 8:30 a.m. ET
- Forward EPS: 18 cents
- Expected revenue: $497 million
Cramer said he wanted to know if the company had the same staffing problems at its restaurants as others in the industry.
- Announce Q1 2022 earnings after closing; conference call at 5 p.m. ET
- Expected loss: $1.41/share
- Expected revenue: 133 million USD
Cramer said he wanted to know if Rivian would allow it Ford to sell its stake in the electric vehicle maker.
Thursday: Toast, Poshmark
- Announce Q1 2022 earnings after closing; conference call at 5 p.m. ET
- Expected loss: 13 cents/share
- Expected revenue: $487 million
Cramer says he’s “anti-Toast” because there are too many players in the restaurant’s point-of-sale management space.
- Announce Q1 2022 earnings after closing; conference call at 4:45 p.m. ET
- Expected loss: 25 cents/share
- Expected revenue: $87.6 million
Cramer said he’ll be watching to hear about the company, which he said has hurt investors who bought its stock.
Disclosure: Cramer’s Charity Trust owns shares of Ford.
