CNBC's Jim Cramer on Thursday said that the carnage in tech stocks like Tesla, Salesforce and Amazon is concealing a bull market in other names.CNBC's Jim Cramer on Thursday said that the carnage in tech stocks is concealing a bull market in other names.
"We had a very traditional bull market based on the dollar and interest rates peaking, both of which tend to be terrific for stocks for a whole host of reasons," he said, adding that "the relentless beatdown in the Teslas and Salesforces and Amazons" is obscuring it. Stocks fell Thursday after the Labor Department reported that initial filings for unemployment insurance fell to their lowest level since September, indicating that the labor market remains hot despite the Federal Reserve'sWhile stocks have taken a beating in recent days, many are still rallying overall, he said. Shares of companies including
Cramer: I love $SOFI $18 Cramer: I love $SOFI $14 Cramer: I love $SOFI $11 Cramer: I love $SOFI $8 Cramer: I love $SOFI $6 Cramer: I wouldn’t buy SOFI $4.25
Crame has lost touch with reality. Tech and Growth companies are more inflation resistant because they aren’t as affected by rising commodity prices. Everything else 📉 This is a one in a generation opportunity to be buying tech given the overdone, unwarranted price drops. 🚀
No sentence that starts “Jim Cramer says….” Is worth finishing.
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