Cramer Says Selling Not Done for Tech Stocks Trading at High Multiples to Sales: ‘Those Have Had It'

Cramer is referring specifically to the stocks trading at high price-to-sales valuations that have little or no current profits that were being bid up during the pandemic for their future earnings potential. These names are now faltering in the face of a Federal Reserve pivot that could lead to higher rates. Cramer says you have to separate those stocks from the companies that actually make products and sell services that are generating profits today.

The major averages whipsawed on Monday, earning back steep losses to ultimately close in the green. However, its been a sea of red for stocks this month, specifically the technology-focused Nasdaq Composite, which is in correction territory.

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