CNBC’s Jim Cramer on Thursday warned investors to wait for the market to stabilize before buying.
“You’re not against the Fed, and you’re not against the tape, which of course is heavily influenced by the Fed. This tape says everything is vulnerable, which again is very unusual because it needs to be. there must be a series of stable fields, “the”Crazy money‘ said the presenter.
“While the Fed wants a slower economy and even a lower stock market,” he added, “the revaluation of all stocks is creating some opportunity. But until things slow, it’s not a big deal,” he added. In turn, those opportunities will and may lead to more pain.”
All three main stats declined on Thursday, reversing gains made after the Federal Reserve announced a 75 basis point rate hike on Wednesday. The Nasdaq and S&P 500 fell deeper into bear market territory and the Dow Jones Industrial Average traded below 30,000 for the first time since 2021.
Cramer says there are companies whose numbers he’s not worried about, listing AMD, Broadcom, Kroger and much more when companies are making mistakes in the current market.
However, he cautioned investors to steer clear of winners in the times of the pandemic, whose losses seem endless, listing names including DoorDash, Airbnb, Etsy and more.
“If these are bad companies and there is no hope of turning a profit, these declines will make sense.… That said, these stocks are kryptonite here,” he said. speak.
