CNBC’s Jim Cramer on Wednesday identified ten stocks in the S&P 500 that investors should consider grabbing at the right price.
“Consider me intrigued, but only if we have a couple more down days like today that give you a better buying opportunity because these stocks have all been overbought,” he said.
Here is his list:
- Align Technology
- Warner Bros Discovery
- Meta Platforms
- Royal Caribbean
- SVB Financial
- Norwegian Cruise
Cramer came up with the list by examining the top-performing stocks so far this year in the S&P 500. He acknowledged that the stocks still have a ways to go to rebound from their lows in 2022, but said that doesn’t mean they won’t eventually make up their losses.
“These stocks could have more room to run, especially if you think they were driven down to artificially low levels by tax-loss selling or artificial dumping,” he said.
He also warned investors that while the S&P 500 winners could be good investments, they should stay away from many of the stocks that have rallied this year after a tough 2022 – especially the ones that investors shorted heavily.
“I’m not going to climb on board the Carvana bus or the Upstart train. The fundamentals – they’re just too ugly,” he said.
Disclaimer: Cramer’s Charitable Trust owns shares of Meta Platforms and Nvidia.