- CNBC’s Jim Cramer on Friday recommended three stocks investors should add to their portfolios to take advantage of hot travel demand.
- “People aren’t shifting from online to in-person shopping,” he explained. “They’re going places. They’re doing things.”
CNBC’s Jim Cramer on Friday recommended three stocks investors should add to their portfolios to take advantage of hot travel demand.
Here are his picks:
Cramer named travel as one of five recession-resistant market leaders that are emerging, while tech stocks have been hammered during earnings season.
Part of the reason tech companies have suffered recently is because the economy isn’t in “lockdown mode” due to Covid anymore, according to Cramer.
He highlighted Amazon’s most recent quarterly results as an example. The company missed Wall Street expectations on third-quarter earnings and issued a soft fourth-quarter sales forecast on Thursday.
“People aren’t shifting from online to in-person shopping,” he explained. “They’re going places. They’re doing things.”
Work-from-home plays are also unlikely to work in the current market, Cramer added. He warned that auto stocks are another potential casualty of the changing economy, since they’re still dealing with supply constraints from the height of the pandemic.
“That must change, or the stocks will languish,” he said.
Disclaimer: Cramer’s Charitable Trust owns shares of Disney.
Source: Business - cnbc.com
