"Nearly all of these, save Apple, are variations on the same story — stocks that were cut in half when their businesses had no such comedowns," he said, adding, "Their stocks just got way ahead of themselves before the Fed took away that easy money."
Tech stocks plummeted this year after climbing to stratospheric levels during the height of the pandemic. Persistent inflation, the Fed's rate hikes, Covid-19 lockdowns in China and Russia's invasion of Ukraine drove investors out of risky tech stocks and into safer bets. At the same time, fears about an impending recession have led investors to prioritize profitability in a company over growth. Once-prosperous tech companies haveCramer explained that focus on the dot-com collapse belies the stocks that may survive this period of economic downturn. "Back then, it was the best of breed that eventually managed to rebound — the rest of them just never came back," he said.
Cramer also predicted that there are many pandemic plays that likely won't recover from this year's challenges. "Once the Fed relents, I'd much rather be in Big Tech, or the top cloud plays, or the better-run chipmakers like
Come on...why pick on these companies, Jim? Everybody short
Is FTX on the list?
Came here to say 'short those 10' and saw every single comment already saying that😂😂
Short everything Cramer say at least the 1st 3 and Apple because if they stay in China and try to sell over here, short them too.
Oh yeah, let’s listen to this guy after he lost people all that money with Meta
Time to short play those 10 ………..
🤦♂️🤦♂️🤦♂️Weathermen and Cramer, what do they have in common
RIP. Time to short
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Source: CNBC - 🏆 12. / 72 Read more »