These stocks are poised for a rally in 2023, according to Cramer.
Despite a choppy start to the year, the Dow Jones Industrial Average is up more than 3% year-to-date and about 4% since apparently bottoming out less than six months ago.
After a tumultuous 2022, battle-tested investors are hunting for bargains — depressed stocks with potential room to run — and CNBC’s Jim Cramer has a list of 10 he believes are trading at the right price.
“Consider me intrigued, but only if we get a couple more low days like today (Wednesday) that give you a better buying opportunity because all of these stocks have been overbought,” Cramer said. according to CNBC.
Those actions include:
- tesla
- Discovery by Warner Bros.
- metaplatforms
- nvidia
- royal caribbean
- Carnival
- norwegian cruiser
- catalent
- alignment technology
- financial SVB
“These stocks could have more room to trade, especially if you think they were driven to artificially low levels by tax loss selling or artificial dumping,” Cramer said.
Stocks to stay away from
When it comes to the stock market, it’s never completely easy to navigate, so while there are some stocks that are poised to rally, there are still pitfalls investors need to be aware of, according to Cramer.
Cramer warned investors to stay away from many stocks that have already risen this year after falling sharply in 2022. They should especially stay away from stocks that were very short.
Called Carvana Online Used Car Market (CVNA) – Get a free reportand the cloud-based AI lending platform Upstart (UPS) – Get a free reportas two names he would stay away from.
“The fundamentals, they are too ugly,” he said.
