CNBC’s Jim Cramer told investors Thursday he was optimistic that shares of “amazing companies“ will make a comeback once the stock market faces better conditions, with five names in particular standing out.
“In the long run, I think the best way to make money is to believe, not doubt, own, not rent, make the effort and commit. Not slamming the door and hiding in the bedroom. That’s why I’m here,” said the “Mad Money” host.
“In the end, as much as I can recite the negatives on these five stocks in my sleep, I remain unshakable in my belief that they will be higher, not lower, after the smoke clears,” he said.
Here’s the list of the five stocks:
“Sometimes these companies will not do well. But they are amazing companies with amazing management. I will give them another chance to have amazing stocks too because historically that was the right choice.” said Cramer.
Major indices suffered smaller losses on Thursday than the day before as investors continued to sell their holdings on fears of a recession amid impending Federal Reserve rate hikes.
Such fears, along with other headwinds including Russia’s invasion of Ukraine, Covid shutdowns in China and more, have hurt stocks in many industries. Disappointing quarters from companies like Target and Cisco this week further spurned the market’s slide.
Still, Cramer remained optimistic about finding winners in the market — despite warning investors earlier this week not to get their hopes up.
“I still see a way to make things work. I’m not ready to throw in the towel,” he said.
Disclosure: Cramer’s Charitable Trust owns shares of Apple, Nvidia, Costco, AMD and Alphabet.