Cramer advises buying stocks before omicron concerns pass
On Wednesday, Jim Cramer suggested investors start buying some beaten-down stocks before the new covid variant concerns pass.
The Mad Money host said they were waiting for the other shoe to drop (that happened today) but added that a shoe doesn’t fall just in a day in this market. He explained that in his opinion, coronavirus concerns would take a bite out of the important U.S. equity averages again.
Cramer said that if investors wait too long before deciding to buy these stocks, omicron will just become a runny nose for vaccinated people. He added that, when it happens, they will regret missing some of these buying opportunities.
Stocks
Here are stocks that he believes long-term investors should consider buying.
- Disney
Cramer said that the shares of the company went down after the appearance of the new omicron variant. He said that this stock wouldn’t stay like that forever. When he said it, Disney was at its low of $142.05 per share.
He said that, explaining that investors should act clever and buy Disney shares when they are down because now it is the time when stocks are broken, not the company. Cramer said that it is an iconic company.
- PayPal
Cramer said that he is motivated by the fact that PayPal stock is down from its $315 high. He suggested buying this stock for a future win.
- Mastercard
Cramer said that the omicron variant affected the payments processor’s stock even though it recently boosted its share purchase program and hiked its dividend by 12%.
- Wynn Resorts
Shares are down nearly 52% from their 52-week high earlier this year, putting its market capitalization at $8.9 billion after closing on Wednesday. He said that, in his opinion, Las Vegas Sands could easily acquire this company as they know the brand is the best in the show.
