Jim Cramer Says Get Out Of Cloud Sector On This Rally, But These 3 Stocks Are Worth Keeping By Benzinga
© Reuters. Jim Cramer Says Get Out Of Cloud Sector On This Rally, But These 3 Stocks Are Worth Keeping
Benzinga – The stock market turned around in the later part of the week after the October inflation print came in tamer than expected.
What Happened: CNBC’s “Mad Money” host Jim Cramer on Friday said he would recommend using the rebound seen in cloud stocks as a “rare opportunity” to sell them into strength.
“That said, some of them might be worth keeping, but only the highest quality names,” the stock picker said.
″If you were trapped in these things, this is giving you a chance to get out,” he added.
See also: 3 Stocks That Could Play the Growth in Cloud-Based Services
Cloud Stocks To Own: Cramer recommended CrowdStrike Holdings, Inc. (NASDAQ: CRWD), Datadog, Inc. (NASDAQ: DDOG) and ServiceNow, Inc. (NYSE: NOW).
He also named Salesforce, Inc. (NYSE: CRM) and Workday, Inc. (NASDAQ: WDAY) as stocks he likes but doesn’t necessarily recommend.
The curated list comes from the components of the WisdomTree Cloud Computing Fund (NASDAQ: WCLD) of which he eliminated companies having a market cap below $1 billion, expected to be unprofitable in 2023, only tangentially related to cloud and having a sum of revenue growth and profit margin less than 40%.
The WisdowTree Cloud Computing Fund closed Friday’s session 5.12% higher at $27.30, according to Benzinga Pro data.
Read Next: Best Technology Stocks Right Now
Photo: Courtesy of Scott Beale on flickr
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