The index, which was first developed in the throes of the health and economic crises in April, is composed of stocks that Cramer predicted would benefit from both the disruption and recession that followed the coronavirus outbreak.
"We put a hundred stocks into this list, but you can really break them into two groups: the ones that benefit from the stay-at-home economy and the ones that work in a recession," the "" host said. "Nearly five months later, the work-from-home tech stocks have given you extraordinary gains, while the traditional slowdown stocks they laid an egg."
The index reached a peak close near 164 on Wednesday and has since declined more than 9% almost a week later as part of a market sell-off that knocked the high-flying tech stocks on the market and major averages off their highs. Since its creation in late April, the Cramer Covid-19 Index has grown almost 22% as of Tuesday. By comparison, theThe biggest gainers on the index are "technology companies that help us cope with the pandemic, and while they've all been getting crushed over the last few days, I think many can bounce," Cramer said."While Fastly's still very expensive here, it is a textbook stay-at-home economy play," Cramer said.
Ghoulish
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