CNBC’s Jim Cramer on Thursday told investors that he’s optimistic that stocks of “amazing businesses“ will make a comeback once the stock market faces better conditions, highlighting five names in particular.
“Over the long haul, I think the best way to make money is by believing, not disbelieving, by owning, not renting, by taking the pain and engaging. Not slamming the door and hiding in the bedroom. That’s why I’m here,” the “Mad Money” host said.
“In the end, as much as I can recite the negatives about these five stocks in my sleep, I remain unshakable in my belief that after the smoke clears, they will be higher, not lower,” he said.
Here is the list of five stocks:
“At times, these companies will not do well. But they’re amazing businesses with amazing management. I’ll give them another chance to have amazing stocks, too, because historically that’s been the right call,”Cramer said.
The major indices took smaller losses on Thursday than the day before, as investors continue to shed their holdings over concerns that a recession is pending due to the Federal Reserve’s upcoming interest rate hikes.
Such fears, along with other headwinds including Russia’s invasion of Ukraine, Covid shutdowns in China and more have left stocks across many industries battered. Disappointing quarters from companies including Target and Cisco this week have further spurned the market’s tailspin.
Still, Cramer maintained that he’s remaining optimistic about finding winners in the market – though he did warn investors against betting on false hope earlier this week.
“I can still see a way to make things work. I’m not ready to throw in the towel,” he said.
Disclosure: Cramer’s Charitable Trust owns shares of Apple, Nvidia, Costco, AMD and Alphabet.
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