Jim Cramer identifies opportunities amid the historic market-wide selloff.
CNBC’s Jim Cramer revealed a bucket of 10 tech stocks that can perform well, despite the coronavirus outbreak that is forcing companies to cut their estimates. The “Mad Money” host sat down with the head of e-commerce company Etsy to get a read on how the novel virus could impact business. Later in the show he discussed 2020 political advertising with the chief executive of digital ads firm Trade Desk.
Shopping tech stocks
CNBC’s on Thursday rolled out a list of technology stocks that investors can pick from in the current volatile environment on Wall Street.
The “Mad Money” host said these companies can benefit from a “stay-at-home era” — performing well even if consumers don’t go out in public in order to avoid coming in contact with the spreading coronavirus.
“These 10 tech stocks … don’t need China, they don’t need the Fed, they don’t need enterprise spending and they don’t need us to stop the coronavirus,” Cramer said. “If anything, some of them should do even better as this outbreak gets worse.”
Cramer presented his suggestions after the major averages went through another brutal trading day this week. The Dow Jones Industrial Average shed 1,190.95 points, or 4.4%, for its biggest one-day point drop in history. The S&P 500 also lost 4.4% of value, and the tech-heavy Nasdaq dropped 4.6%.
Investors are trying to digest the potential impact of an already slowing global economy, further pressured by the COVID-19 outbreak, which is dragging stock prices down. Cramer said the 10 stock picks can work, even if the epidemic spreads across the United States as public health officials have warned.
The host said the market is now oversold.
“If you can find stocks with solid, long-term secular growth themes that have persistently high growth, regardless of the economy, that have little China exposure and, most importantly, that work in a largely stay-at-home … environment, then these names will be worth buying tomorrow,” Cramer said.
Shopping from home
CEO Josh Silverman suggested that the online marketplace’s business would dodge the negative impact of the spreading coronavirus that is throwing many other companies in limbo.
“A lot of people are worried about their supply chain,” he said in a sit-down interview with Cramer. “Etsy makers are already working from home, so we feel very resilient.”
2020 election digital ads topped Wall Street’s expectations in its fourth quarter and the digital advertising outfit benefited greatly from the 2020 race for the White House.
“We’re having an amazing start to our 2020 and … we’re just feeling really great about our Q1,” founder and CEO Jeff Green said in a “Mad Money” interview. “We’re feeling really great about the year, of course, as well and that’s largely driven by political advertising.”
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